Following a steady increase in listings in 2013, 2014 has gotten off to a slow start, most likely due to the severe weather we have experienced.
New listings were down from last January when temperatures were milder. There were 291 new residential listings taken in January, compared to 319 in January 2013, a drop of almost 9 percent.
Sales for all property types were down 7.3 percent, with 217 sold, compared to 234 in January last year. Residential sales dropped 17 percent from last year with 152 closings compared to 183 in January 2013. However, those properties sold in less than half the time it took properties to sell a year ago, at 41 days-on-market versus 85 days. Pending sales (new sales agreements signed) are even compared to last year at 77 for the month, compared to 75 a year ago, which provides a good base for growth.
The local market continued to experience strong year over year price growth. The average residential sales price for January was $242,596, an 8 percent increase over $224,686 in January 2013. The average listing price in January went up almost 7 percent, at $248,633 over last year's price of $232,751.
See more January statistics here.