The RMLS released the monthly statistics for January late yesterday. The trends we have seen over the past months continue, with increased pending sales and closed sales, low inventory and slowly declining prices.
When comparing January 2012 to January 2011, closed sales increased by a whopping 18.3%. These are the highest sale numbers since January 2007. Pending sales also grew at a rate of 22.4% and market time shortened from an average days in market of 160 to a more manageable 136.
Still, looking from 2011 to 2012, inventory was down, with 16.5% fewer properties on the market. Of cousre, many of us real estate agents have been telling our clients not to sell, to wait it out. It is seeming more and more, that this may be the time to sell.
Prices, may be nearing leveling off. January 2011's average sales price was $248,900 and for 2012 we saw $249,100. Is this what the bottom looks like?
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