Market Report: January 2015

We did see a 10% decrease in sales from January 2014 to January 2015.  However, sales were even when comparing 2013 and 2015.  Were the sales slightly higher than usual in January 2014?  Will 2015 catch up and pass 2014 in sales?  Time will tell.

Median sale prices were back up 20% in January 2015.  The deflated median sales price of January 2014 could possibly be correlated with the higher number of sales. 

January median days on the market were down 10%; as you can see, a four year low.

Inventory has also decreased by 3% when comparing January 2015 and January 2014.

January 2015 contracts are up 11% when compared to January 2014.  If we hypothesize that the same percentage of contracts make it to closing as in 2014, we could predict February and March having a higher number of sales than 2014.