How did our market change this January? Find out in today’s market update.
We observed a lot of interesting developments this January, and it’s time to review the impact these changes had on our market.
For one thing, 33% of single-family homes sold in January with an average sales price of $404,275. This constitutes a 42% drop from December 2018, but only an 8% drop year over year.
Moving on, 35% of duplexes and row houses sold with an average sales price of $322,052. This is a 34% decrease from last December and a 5% decrease from this time last year.
Finally, there’s the matter of the condo market. 28% of condos sold in January with an average sales price of $218,680. This means there has been a 16% decrease since December and a 1% decrease year over year.
As you can see from this data, the overall sales traffic decreased this January in our market. Heading into spring, however, we expect this trend to reverse. It’s likely we’ll see an increased number of sales in the months ahead.
If you have any other questions or would like more information, feel free to give us a call or send us an email. We look forward to hearing from you soon.