Market Update | January 2024

Dated: February 18 2024

Views: 44

In January compared to December, the real estate market saw a significant increase in new listings by 89.2%, while active inventory slightly decreased by 3.3%. Pending sales showed a positive trend, rising by 14%, but closed sales experienced a decline of 15.8%. The average sales price dipped by 3.8%. Notably, inventory levels rose to 3.2 months in January, and the total market time increased to 68 days.

 

Highlights –January 24 VS December 23

  • New listings increased by 89.2% in January compared to December.
  • Active inventory decreased slightly by 3.3%.
  • Pending sales saw a positive trend, rising by 14%.
  • Closed sales experienced a decline of 15.8%.
  • The average sales price dipped by 3.8%.
  • Inventory levels rose to 3.2 months in January.
  • Total market time increased to 68 days.
Blog author image

Dave Woody

Dave works diligently behind the scenes to make Real Estate easy for you. He services clients in Washington and Oregon and joined NextHome Realty Connection to grow his business. Real Estate draws on ....

Latest Blog Posts

Market Update | January 2024

In January compared to December, the real estate market saw a significant increase in new listings by 89.2%, while active inventory slightly decreased by 3.3%. Pending sales showed a positive trend,

Read More

New student loan repayment plan could make it easier for borrowers to become homeowners

PUBLISHED TUE, FEB 13 2024 | Annie NovaA new, more affordable repayment plan for federal student loan borrowers may come with another advantage: It could make it easier to become a

Read More

Don’t Let the Latest Home Price Headlines Confuse You

Based on what you’re hearing in the news about home prices, you may be worried they’re falling. But here’s the thing. The headlines aren’t giving you the full

Read More

Why Having Your Own Agent Matters When Buying a New Construction Home

Finding the right home is one of the biggest challenges for potential buyers today. Right now, the supply of homes for sale is still low. But there is a bright spot. Newly

Read More