Monthly Market Spotlight for January 2018

January started the year off strong with more single family homes and condos/townhomes sold, and sold more quickly, than in January of last year. Let’s take a closer look at January’s performance:

Residential Sales:

residential

 

 

 

 

Single Family Homes
19 Sales
$1,237,520 AVG Sales Price
$956,250 Median Sales Price
133 AVG Days on Market
72% Ratio of Sales Price to Current List Price

Condominiums & Townhouses
6 Sales
$559,458 AVG Sales Price
$574,625 Median Sales Price
121 AVG Days on Market
98% Ratio of Sales Price to Current List Price

Vacant Land / Building Site
4 Sales
$1,350,750 AVG Sales Price
$627,000 Median Sales Price
234 AVG Days on Market
108% Ratio of Sales Price to Current List Price (*1 sale which was significantly above the list price)

 

Residential New Listings:

house for sale

 

 

 


Single Family Homes

12 New Listings
$4,873,250 AVG List Price
$3,500,000 Median List Price

Condominiums & Townhouses
18 New Listings
$1,076,056 AVG List Price
$704,500 Median List Price

Building Sites / Vacant Land
6 New Listings
$1,116,250 AVG List Price
$874,750 Median List Price

 

Sales Charts:

The number of single family homes sold in January increased by 36% compared to January 2017 and was down 14% compared to December 2017.

For single family homes, the average days on market this January decreased 21% compared to last January and decreased 57% from December 2017.

The average sales price for a single family home slightly decreased last month (-2%) compared to January of 2017 and decreased 65% from December 2017. December 2017 had 2 significant sales, each of which were over $11M.

The number of condominiums and townhomes sold in January doubled from January of the previous year but was slightly less than in December 2017.

The average days on market in January for condominiums and townhomes decreased by 23% from January 2017 and decreased by 8% from the previous month.

The average sales price for condominiums and townhomes increased by 25% year on year. However, last month’s average decreased 29% when compared to December 2017.

Data Notes:
The above information is from the Multiple Listing Service (MLS). Sales outside of the MLS account for approximately an additional 10%.
The above information does not include fractional ownership or listings categorized as Farm and Ranch.
AVG days on market is the average number of days that the listings in the category are on the market prior to selling.

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