|A LOOK AT THE MARKET
Buyers and sellers are slowly coming back into the market after the holidays. Total new listings in January increased by 65.2% month-over-month, and active listings still available at the end of the month decreased by 13.4% compared to December.
CLICK HERE to learn more or reach out to discuss your real estate needs.
However, the median price for detached, single-family homes dropped slightly to $595,000 down from $600,000 the month prior. Prices were also down by less than 1% compared to the same month last year. With no big swings in price, the market remains stable despite high rates.
Homes are taking longer to sell as well, with median days on market now at 36. That’s a 620% increase year-over-year.