How was the real estate market in January? I know I know, I am about 30 days late getting this out. But, better late than never.
Only one large acreage property sold in January, but 8 homes in town did sell. This low inventory is pretty seasonal for January, but we are seeing a shortage of inventory across the board. Of the 8 homes that sold in town, the average sold price increased over all of 2019, as did the list to sale ratio. Sellers saw 99.26% of their asking price. There were28 homes for sale in January, creating a 3.5 month inventory of supply, which still indicates a seller's market, but it is slowly creeping towards a balanced market.
To see the full infograph for the Silverton Real Estate Market Update in January, click the link.