Interesting month in Real Estate. December was a strong month compared to last year in both pending & closed sales and median sales price. The new Listings, current listings and months supply of homes on the market are down very dramatically. The YTD numbers are not as strong a difference from 2015. 
 
Sales are up for the month and inventory of homes is down. Along with that median sales prices are up. All put together it seems like a great time to sell your house. Interest rates have dropped slightly, a signal that it is a great time to buy as interest rates will increase sooner than later. 
 
2017 is going to be a strong year!
 
Real Estate Sales for December 2016
 

 

Dec  2015

Dec 2016

% Change

YTD 2015

YTD 2016

% Change

New Listings

258

206

-20.2%

6116

6298

+3.0%

Pending Sales

328

427

+30.2%

4536

4755

+4.8%

Closed Sales

328

344

+4.9%

4532

4614

+1.8%

Median Sales Price

$164,750

$179,900

+9.2%

$171,000

$181,900

+6.4%

% of Original List Price Received

97.5%

98.2%

+0.7%

98.2%

98.5%

+0.3%

Inventory of Homes for Sale

1290

1044

-19.1%

 

 

 

Month’s Supply of Homes for Sale

3.4 Months

2.6 Months

-23.5%