The first round of market stats are in for the new year! We’re seeing the continuing trend of increasing value and decreasing supply.
You can see from the chart below that we sold more of our inventory than we did in 2013, but we’re still clearing out over half of our supply in a month and any new homes on the market aren’t making up for the deficit.
You can also see that our wintertime slump is affecting our bottom line a bit too. The market is slow to warm up this year, as you can see our 2013 January totals are well above this year’s.
Property values, however, continue to climb as you can see our monthly averages in both Median and Sales Price are up 9% on both accounts over 2013.
As we mentioned last month, the winter months mean longer times on the market on an average. You’ll see from the graph below that we’re staying pretty true to form. Soon as Spring arrives, we’ll see the houses on market slowly reduce their active time and sell in under that 60 day time period!
*Local market stats last updated 3/13/2014