Hello to all and Happy New Year! We wish you health and happiness for 2019
If we had to choose a word for December it would be: schizophrenic. Between large swings in the stock market, concomitant swings in the mortgage market and an uncertain future of rate hikes, frankly we feel a little addled. The local housing market however continues to show strength despite these causes for concern. While inventory was down from November, it is up 4% from this time last year and we are at 4.8 months of inventory, which is 11.6% higher than last year. In other words we are seeing the trend continue where inventory of homes for sale is being built back up, though slowly. Otherwise December continued the normal seasonal slump as people spent time with family over the holidays. We still need a bit of time to finish crunching the numbers from all of 2018 but expect to see a full year analysis in the coming weeks.
|Median Sales Price||$480K||$435K||$385K|
|Avg Days on Market||98||100||95|
|Avg % of Original Price||94%||94%||93%|