The January housing market data was made available today. There was an improvement on many fronts, but first the cold hard facts...
229 Homes went pending, the most since September(262) and almost as many as November and December combined(277)
114 Homes sold in January. This is largely driven by the pendings in the previous 2 months.
Inventory decreased for a 6th consecutive month, down to 1755 from a high of 2589(July).
Median Price was $234,000, up from last months $225,000, but down from a January 08 median of $270,000.
Average Price Sold price was $285,000, up from last months $263,000, but down from a January 08 average of $324,000.
The average time to sell a home was 147 days, which tracks closely with the last several months
There is still a large inventory(15.4 months) that will continue to enable buyers to pick and choose their property closely. The good news is the inventory keeps decreasing.
I sincerely hope this is a sign of things to come for 2009.
Marty
Comments(0)