January ended with 944 sales, down 24.1% from December. Compared to one year ago (894), the current figure is up 5.6%.
The Active Listing Inventory increased 7.1% from December to January, from 1,315 units to 1,409 units. Compared with January 2019 (2,095), inventory is down 32.7%. The Months of Inventory increased from 1.1 to 1.5 Months. This figure represents the amount of time (in months) it would take for the current rate of sales to deplete the total active listing inventory.
The Median DOM (days on market) decreased from 19 to 17 and the Average DOM increased from 32 to 33. “Days on market” represents the days between the initial listing of the home as “active” and the day it goes “pending.”
1) Overall sales increased to 944 in January, up from 894 in January 2019. Sales were down from December 2019 (previous month), and up 5.6% from January 2019.
2) Active inventory was at 1,409, down from 2,095 in January 2019. That is down 32.7% year-over-year. This is the ninth consecutive month with a YoY decline in inventory, following 20 months of YoY increases in inventory.