Here’s a quick breakdown of what happened in the market last month, simplified for you:
🏡 Homes for Sale:
- 2,369 homes were on the market.
- That’s down 27.6% from November but up 20.2% compared to last year.
🔑 Homes Sold:
- 1,369 homes closed in December.
- This is only 1.6% lower than last month and 16.7% higher than December 2023.
💰 Average Sold Price per Sq. Ft.:
- $333 per square foot.
- Slightly down 2.1% from last month but up 1.8% from last year.
⏱ Days on Market:
- Homes stayed on the market for an average of 47 days, a 14.6% increase from November and 11.9% longer than last year.
📉 Sold vs. List Price Ratio:
- On average, homes sold for 96% of the original list price, down slightly by 1% from November, holding steady compared to last year.
📈 Home Prices:
- Average for Sale Price: $810k, up 2.9% from last month but down 8% from last year.
- Average Sold Price: $670k, up 0.4% from November and 5% higher than December 2023.
📝 Homes Under Contract:
- 1,183 homes went under contract.
- That’s 11.1% fewer than last month but 15.5% more than a year ago.
📦 Inventory Levels:
- There’s 1.7 months of inventory based on closed sales, a significant 29.8% drop from November, staying steady compared to last year.
Takeaway: December showed strong year-over-year growth in sales and prices, despite typical holiday slowdowns. Inventory is tight, making it a competitive market for buyers, while sellers are seeing solid returns.
Questions about buying or selling? Let’s connect! 📞
