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.
JANUARY 2020 New Listings:
We start by looking at the NEW LISTINGS that came on the market in January and we begin with 2018, where we see there were 373 NEW LISTINGS that came on the market. In January of 2019, we find an increase of +17.7 percent with 439 NEW LISTINGS. The following year in January of 2020, we decreased by -14.4 percent with 376 NEW LISTINGS.
JANUARY 2020 Homes for Sale:
We again, start by looking at January of 2018, where we see there were 784 HOMES FOR SALE. In January of 2019, we find an increase of +14.4 percent with 897 HOMES FOR SALE. The following year in January of 2020, we decreased by -24.2 percent with 680 HOMES FOR SALE.
JANUARY 2020 Pending Sales:
Let's view January of 2018, where we see there were 325 PENDING SALES. In January of 2019, we decreased by -8.6 percent with 297 PENDING SALES. The following year in January of 2020, we increased by +27.9 percent with 380 PENDING SALES.
JANUARY 2020 Median Days on Market:
Let's view January of 2018, where we see there were 28 MEDIAN DAYS ON MARKET. In January of 2019, we decreased by -14.3 percent to 24 MEDIAN DAYS ON MARKET. This year in January, we held even at 24 MEDIAN DAYS ON MARKET.
JANUARY 2020 Months Supply of Homes for Sale:
In January of 2018, the MONTHS SUPPLY OF HOMES FOR SALE was 2.3. In January of 2019, we increased by +13.0 percent with a 2.6 MONTHS SUPPLY OF HOMES FOR SALE. This year in January, we decreased by -34.6 percent with 1.7 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!!