JANUARY 2024 New Listings:
We start by looking at the NEW LISTINGS that came on the market in January and we begin with 2022, where we see there were 306 NEW LISTINGS that came on the market. In January of 2023, we found we decreased by -26.1 percent with 266 NEW LISTINGS. This year, in January of 2024, we increased by +14.6 percent with 259 NEW LISTINGS!
JANUARY 2024 Homes for Sale:
Next, we turn to the HOMES FOR SALE in January of 2022, where we see there were 258. In January of 2023, we find an increase of +48.4 percent with 383 HOMES FOR SALE. This year, in January, we increased by +4.7 percent with 401 HOMES FOR SALE.
JANUARY 2024 Pending Sales:
Let's view January of 2022, where we see there were 326 PENDING SALES. In January of 2023, we decreased by -15.3 percent with 276 PENDING SALES. This year, in January, we increased by +4.7 percent with 289 PENDING SALES.
JANUARY 2024 Median Days on Market:
Let's view January of 2022, where we see there were 5 MEDIAN DAYS ON MARKET. In January of 2023, we increased from the previous year with 36 MEDIAN DAYS ON MARKET. This year, we decreased by -33.3 percent to 24 MEDIAN DAYS ON MARKET.
JANUARY 2024 Months Supply of Homes for Sale:
In January of 2022, the MONTHS SUPPLY OF HOMES FOR SALE was 0.7. In January of 2023, we increased by +71.4 percent with a 1.2 MONTHS SUPPLY OF HOMES FOR SALE. This year, we increased by +25.0 percent with 1.5 MONTHS SUPPLY OF HOMES FOR SALE.
A months supply of homes for sale is the number that tells you how many months it would take for all the current homes for sale on the market to sell, given a monthly sales volume. Four to five months of supply is average. Less than 5 months means it is a very healthy sellers' market.
Reach out to The Linda Hall Team, Century 21 First Choice, if you want to know your options in this real estate market.