1. The inventory is WAY WAY better. Last January buyers had 260 homes to pick from. This January buyers had 336 homes to pick from – that’s almost 30% more. I know some of you who have been waiting for a 2 bedroom 2 bathroom condo at the Clarendon 1021 – this might not seem true, but the market seems more balanced than last year.
2. Average days on the market went from 60 to 45 – which is a 25% improvement. If you like the house – don’t wait around too long or you will miss the opportunity.
The rest of the statistics is very similar – number of sold homes, homes that are under contract, average sales price, median sales price. If you’d like to see all the statistics in detail – click here.
I know a lot of buyers – especially in lower price ranges that are waiting for some new listings – hang in there – March and April should bring some more opportunities. Just make sure you get your loan approval ready so you can jump on something quickly.