Monthly Market Report - January, 2021
The strong seller’s market of the past few years only continues to tilt toward sellers. New listings were down 12% from the prior year same month, but pending listings were up 1%. The number of closed sales has decreased by 6% (this is being driven down by
a lack of inventory). Meanwhile average days in MLS has decreased by 19 days, down to a mere 26 days currently. Inventory has dropped from 6 weeks to 5. The result on average home price is staggering at an increase of 16% over the year.