Is anyone surprised to hear that January 2020 brought strong sales and increased prices? Let me break it down: In January 2020, there were 390 residential properties sold at an average sales price of 468k. In January 2019, there were 354 sold residential properties averaging 411k. Looking back to 2015 there were 334 sold properties at an average of 311k. Over the last five years, the number of sold properties grew over 16%, and the average sales price increased a whopping 50.5%!
The number of days homes are on the market has decreased slightly, looking at the whole market, but appropriately priced homes are moving fast. That includes homes with recent price reductions. Five times in 2020, I have tried to schedule showings for buyers and learned the homes just went under contract. Having your financing in place and reacting quickly in our competitive market can be the difference between getting a house or remaining on the sidelines.
