January 2025 Market Report

As of the most recent data available, the real estate market is showing some interesting trends that both buyers and sellers should be aware of.

Firstly, the Months Supply of Inventory is currently at a low 1.37, indicating a tight market with limited available properties. This low inventory level can lead to increased competition among buyers and potentially higher prices for sellers.

However, it's worth noting that the 12-Month Change in Months of Inventory has increased by a significant 30.48%. This suggests that the market may be starting to shift towards a more balanced or even buyer-friendly environment in the near future.

Despite the low inventory levels, homes are still selling relatively quickly, with a median of 27 days on the market. This quick turnover time indicates strong demand from buyers and a healthy level of activity in the market.

Additionally, sellers can take comfort in the fact that homes are selling very close to their list prices, with a Sold to List Price Percentage of 99.7%. This high percentage suggests that sellers are able to secure close to their asking price, which is a positive sign for anyone looking to sell their property.

Lastly, the Median Sold Price in the market is $482,000. This figure provides a benchmark for both buyers and sellers to understand the overall pricing trends in the market and make informed decisions accordingly.

Overall, the current real estate market is displaying a mix of indicators that suggest both opportunities and challenges for buyers and sellers. It's important for all parties to stay informed and work with a knowledgeable real estate professional to navigate these dynamics effectively.