Let's dive even deeper than this. Let's begin by looking at a year over year comparison of specific real estate data that will help us understand what our local markets are doing compared to the rest of the country.
DECEMBER New Listings:
We start by looking at the NEW LISTINGS that came on the market in December and we begin with 2017, where we see there were 360 NEW LISTINGS that came on the market. In December of 2018, we find a slight decrease of -0.3 percent with 359 NEW LISTINGS. The following year in December of 2019, we decreased again by -7.0 percent with 334 NEW LISTINGS.
DECEMBER Homes for Sale:
We again, start by looking at December of 2017, where we see there were 1,355 HOMES FOR SALE. In December of 2018, we find an increase of +2.8 percent with 1,393 HOMES FOR SALE. The following year in December of 2019, we decreased by -12.3 percent with 1,222 HOMES FOR SALE.
DECEMBER Pending Sales:
Let's view December of 2017, where we see there were 334 PENDING SALES. In December of 2018, we decreased by -12.3 percent with 293 PENDING SALES. The following year in December of 2019, we increased by +8.5 percent with 318 PENDING SALES.
DECEMBER Median Days on Market:
Let's view December of 2017, where we see there were 21 MEDIAN DAYS ON MARKET. In December of 2018, we increased by 47.6 percent to 31 MEDIAN DAYS ON MARKET. The following year in December of 2019, we decreased by -32.3 percent to 21 MEDIAN DAYS ON MARKET.
DECEMBER Months Supply of Homes for Sale:
In December of 2017, the MONTHS SUPPLY OF HOMES FOR SALE was 3.2. In December of 2018, we held even at 3.2 MONTHS SUPPLY OF HOMES FOR SALE. The following year in December of 2019, we decreased by -21.9 percent to 2.5 MONTHS SUPPLY OF HOMES FOR SALE.
So there is your comprehensive LOCAL look at the real estate market. If you are thinking about purchasing a home, please reach out to the Linda Hall Team. We'd love to assist you!!