2023 is off to a dynamic start in real estate. While we typically see a consistent thread through most of the markets we review, January offers a less consistent picture. In some areas, transactions are down and average sales prices are up, while in others the opposite is true. The one number that stands out for each market is the number of homes pending. In January we all noticed a shift in expectations, and we believe that this shift likely caused a dramatic increase in pendings across nearly every market. You’ll note in all markets but for Meridian Hills and Williams Creek Areas, the number of homes currently pending exceed the number of homes sold in January and the number of homes on the market.
To understand what these numbers mean for you and your neighborhood, call us today. We will walk you through exactly what these numbers might mean for you as you consider your next real estate move.
All data collected on 2/14/2023 from MIBOR BLC.
Data range 01/01/2023-01/31/2023.