The real estate market continues to be a seller's market. Inventory is low most homes are receiving multiple offers, with some going significantly over the list price.
The TrendGraphix Report shows the current trend in the local market. Only single family homes were included in this report.
- The number of homes listed for sale in January 2014 was 11 units, which is up 83.3% compared to the last month and up 83.3% compared to the last year.
- 5 Homes sold in January 2014 which is down 44.4% compared to the last month and down 37.5% compared to the last year.
- 7 homes were in contract in January 2014 which is up 75% compared to the last month and up 250% compared to the last year.
While the number of homes actually sold was down in January, it is important to remember that typically December and January are slower months.
In January 2013 the average sales price was $653,000. In January 2014 the average sale price was $739,000.
It will be interesting to see if the trend continues at the frantic pace that the was seen last year. All indications are that the Spring market will be another brisk one. Inventory is low and homes are selling quickly. With interest rates still hovering at historic lows and the positive employment in the Tech Sector will most likely continue to put seller's in the driver's seat.