Today I’m giving you a real estate market update with the latest numbers from last month.
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I’ve got some brand-new numbers from January to give you the latest update on what’s happening in our real estate market.
Last month, single-family resale home sales were up 12.6% from the month before and the 12-month rolling average is up 4.7%, which is great news. New construction sales were down 13.5% last month, but the 12-month rolling average is up 3.3%.Condos saw a 16.9% increase in sales last month, and the 12-month rolling average is up 11.3%.
Single-family resale home prices are up 2.7% from the month before, and the 12-month rolling average is up 5.3% at $194,700. New construction properties saw a decrease in prices last month of 5.3%, but the 12-month rolling average is up 0.4% at $230,855. Condo prices are up 12.3% from the month before and the 12-month rolling average is up 4.3% at $122,000.
Buyers and sellers should both be taking advantage of the current market.
Single-family resale home inventory is down 8% in the last month, new construction inventory is down 1.1%, and condos saw a 9.9% decrease in inventory in the last month.
These numbers mean that whether you are a buyer or a seller, now is a great time to take advantage of the real estate market. Buyers are going to want get a home purchased before interest rates increase again, which means sellers have a great buyer pool to take advantage of right now.
If you are looking to sell a home or if you have any other real-estate related questions, please reach out to me. I would be more than happy to help you. 