HERE ARE SOME OF THE JANUARY 2019 NUMBERS:
• The average single-family home price in January 2019 decreased to $688,886 from $699,352 compared to January 2018.
• Residential days on market has increased by 3% to 77 days in January 2019 compared to 75 days in January 2018. It’s taking longer to sell now! We now have 9 months of residential inventory.
• The number of total sales has decreased by 40% to 216 units for the month of January 2019 compared to 363 units in January 2018.
• Number of units listed has increased 24% to 787 units listed in January 2019 compared to 636 in January 2018.
Supply vs demand is changing, and it is affecting our market now. It continues to show signs of a stronger and growing buyer’s market.
I was thinking about how I was going to boast about our mild winter compared to the rest of the country. Then that idea ended rather abruptly when we too ended up in the deep freeze. At least there is one positive note from this blast of cold weather. The ice wine harvest is on! A week ago, there was discussion of a major loss of ice wine grapes. I’m sure the wineries are happy with this cold snap!