After being up for the last 2 months sales fell by 20% in the month of December. The average sales price and the median sales price increased but this looks like it was due to some sales of higher priced homes. The number of Pending Sales decreased by 7%. New listings increased but the number of active listings continues to shrink. The months of inventory is at 2.9 months. This is a very low number and if you are a buyer you have very little on the market to choose from.
Sales: 52
Average Sales Price: $189,339
Median Sales Price: $171,000
Pending Sales: 42
New Listings: 82
Active Listings: 231
Days on Market: 59
Months of Inventory: 2.9
It is no surprise that sales are a bit slow in December, and yet this market right now is new. The enonomy isn't working in any of the usual methods. It is very hard to predict. For instance, what will the Fed do with interest rates soon? I hear some say up and some day down. While it is easier to comment on what has happend, like these statistics, I think it is better to develop some sense of what is going to happen. That is what our clients want, right?