📊 Home Sales 282 homes sold in January, a 3.3% increase year-over-year (282 vs. 273). Sales activity remains steady despite typical winter seasonality. Average sale price: $649,643, up 12.02% year-over-year. Median sale price: $514,995, nearly flat year-over-year (down 0.96%). Key insight: Prices remain stable overall, with strong performance in higher-end price points supporting the average price growth.
📝 Pending Sales 395 homes went under contract, a strong 15.8% increase year-over-year (395 vs. 341). Pending growth signals solid buyer demand heading into late winter and early spring. Significant gains occurred in higher price ranges, including: $400k–$449k: up 80% $1M–$2M: up 20.7% $2M–$3M: up 400%
💰 Pricing Trends Average sale price: $649,643 (+12.02% YoY) Median sale price: $514,995 (essentially flat YoY) Average list price (active homes): $809,223 (down 1.75% YoY) Median list price: $589,000 (down 5.44% YoY) Key insight: While list prices have moderated slightly, sold prices remain strong — showing buyers are paying for well-positioned homes.
🏘️ Luxury Market Activity The upper-end market showed major movement: $1M–$2M sales: up 141.7% year-over-year $2M–$3M sales: up 250% year-over-year Pending $2M–$3M: up 400% $3M–$5M pendings: up 200% Luxury demand continues to strengthen and is contributing significantly to overall price averages.
📦 Inventory Levels 1,613 active homes, up 11% year-over-year. 614 new listings, down 4.4% compared to last year. Inventory growth is concentrated in mid-range and luxury price points. Absorption rate: 4.53 months, up 5.35% YoY — indicating a balanced market environment.
⏳ Days on Market Average Days on Market: 88 days (up 14.29% YoY) Median Days on Market: 66 days (up 34.69% YoY) Homes are taking longer to sell compared to last year, reflecting increased inventory and more buyer choice.
🔍 Market Insight January reflects a market that is: Balanced and stabilizing Experiencing strong pending growth Showing significant strength in the luxury sector Maintaining stable overall pricing Higher inventory combined with increased pendings suggests momentum building as we head toward spring.
