Total home sales were 50% lower this January than last. So again, “out of the gate” this year is not as strong as last year.
Homes are selling at 94.5% of list price, but January’s median list price was $599,000, which is 19.6% lower than January 2022’s median list price. And Median days on market are much higher this month than at the same time a year ago. Days on market were 168% higher this January than a year ago.
The condo market is still pretty strong. Condos are selling at 97.5% of asking price. The median list price this January is 6.6% lower than last year – at $290,000, suggesting a cooling, but the Median SALES price, however, is up by nearly 50%! It’s $325,000 this year. 12% fewer condo sales this January compared to last January.
