January Housing Market Report

Good evening and happy Monday to you! It is the first part of the month and you know what that means. It’s time to do the numbers.

January showed a slowdown in sales typical of decreased buyer activity during the holiday season. Although the average list price increased by 10% from January of last year, the average sale price actually decreased marginally. This means that although asking prices are still increasing, demand for homes in more affordable ranges is still the highest ($250,000 and under) and inventory in that range is tight and becoming tighter resulting in fewer overall sales.

Don’t worry, I have some good news for buyers too. Homes sold to list ratio dropped from a high 96.5% in November to 94.5% in January meaning that on average, sellers are dropping their prices a little more in order to get their homes sold. Average days on market also increased from a low in September of 78 days to 97 days on market in January.

Please see the full report below and as always, if you have a more specific question in regards to how the local housing market is doing, please don’t hesitate to call or email. Have a GREAT week!

Best, David Alderman

Painted Hills Realty

· Market Summary for January 2016

Summary Statistics

Jan-16

Jan-15

% Chg

2016 YTD

2015 YTD

% Chg

Absorption Rate

4.74

6.25

-24.16

4.74

6.25

-24.16

Average List Price

$403,656

$364,092

10.87

$389,588

$356,236

9.36

Median List Price

$299,900

$269,900

11.12

$298,500

$264,250

12.96

Average Sale Price

$248,610

$253,387

-1.89

$248,482

$253,387

-1.94

Median Sale Price

$214,450

$212,990

0.69

$215,000

$212,990

0.94

Average CDOM

101

-4.95

101

-5.94

Median CDOM

-13.21

-10.34

Sold Listings
	This Month			Year to Date
	2016	2015	% Chg	2016	2015	% Chg
0-49,999	11	5	120.0	11	5	120.0
50,000-99,999	18	14	28.6	18	14	28.6
100,000-149,999	32	38	-15.8	32	38	-15.8
150,000-199,999	45	43	4.7	45	43	4.7
200,000-249,999	31	43	-27.9	31	43	-27.9
250,000-349,999	50	46	8.7	50	46	8.7
350,000-449,999	27	21	28.6	27	21	28.6
450,000-549,999	10	9	11.1	10	9	11.1
550,000-649,999	4	1	300.0	4	1	300.0
650,000-749,999	2	1	100.0	2	1	100.0
750,000-999,999	4	6	-33.3	4	6	-33.3
1,000,000-1,499,999	0	2	-100.0	0	2	-100.0
1,500,000-1,999,999	0	0	0.0	0	0	0.0
2,000,000-2,499,999	0	0	0.0	0	0	0.0
2,500,000-2,999,999	0	0	0.0	0	0	0.0
3,000,000+	0	0	0.0	0	0	0.0
Totals	234	229	2.2	234	229	2.2

Pending Listings
	This Month			Year to Date
	2016	2015	% Chg	2016	2015	% Chg
0-49,999	6	5	20.0	6	5	20.0
50,000-99,999	28	17	64.7	28	17	64.7
100,000-149,999	46	44	4.5	46	44	4.5
150,000-199,999	55	72	-23.6	55	72	-23.6
200,000-249,999	58	63	-7.9	58	63	-7.9
250,000-349,999	80	54	48.1	80	54	48.1
350,000-449,999	27	26	3.8	27	26	3.8
450,000-549,999	18	10	80.0	18	10	80.0
550,000-649,999	7	5	40.0	7	5	40.0
650,000-749,999	3	3	0.0	3	3	0.0
750,000-999,999	4	3	33.3	4	3	33.3
1,000,000-1,499,999	0	0	0.0	0	0	0.0
1,500,000-1,999,999	0	0	0.0	0	0	0.0
2,000,000-2,499,999	0	1	-100.0	0	1	-100.0
2,500,000-2,999,999	1	0	N/A	1	0	N/A
3,000,000+	0	0	0.0	0	0	0.0
Totals	333	303	9.9	333	303	9.9

Active Listings
	This Month			Year to Date
	2016	2015	% Chg	2016	2015	% Chg
0-49,999	25	33	-24.2	32	39	-17.9
50,000-99,999	81	98	-17.3	108	126	-14.3
100,000-149,999	107	204	-47.5	149	274	-45.6
150,000-199,999	164	271	-39.5	233	378	-38.4
200,000-249,999	213	254	-16.1	301	349	-13.8
250,000-349,999	424	440	-3.6	537	561	-4.3
350,000-449,999	252	238	5.9	309	299	3.3
450,000-549,999	128	117	9.4	169	149	13.4
550,000-649,999	66	73	-9.6	93	90	3.3
650,000-749,999	44	45	-2.2	50	54	-7.4
750,000-999,999	65	62	4.8	78	72	8.3
1,000,000-1,499,999	30	36	-16.7	35	42	-16.7
1,500,000-1,999,999	21	15	40.0	23	19	21.1
2,000,000-2,499,999	6	1	500.0	6	6	0.0
2,500,000-2,999,999	6	5	20.0	8	6	33.3
3,000,000+	9	11	-18.2	10	13	-23.1
Totals	1641	1903	-13.8	2141	2477	-13.6

New Listings
	This Month			Year to Date
	2016	2015	% Chg	2016	2015	% Chg
0-49,999	5	5	0.0	5	5	0.0
50,000-99,999	24	30	-20.0	24	30	-20.0
100,000-149,999	43	84	-48.8	43	84	-48.8
150,000-199,999	72	112	-35.7	72	112	-35.7
200,000-249,999	83	91	-8.8	83	91	-8.8
250,000-349,999	149	145	2.8	149	145	2.8
350,000-449,999	75	69	8.7	75	69	8.7
450,000-549,999	45	38	18.4	45	38	18.4
550,000-649,999	29	21	38.1	29	21	38.1
650,000-749,999	5	11	-54.5	5	11	-54.5
750,000-999,999	19	12	58.3	19	12	58.3
1,000,000-1,499,999	9	9	0.0	9	9	0.0
1,500,000-1,999,999	2	7	-71.4	2	7	-71.4
2,000,000-2,499,999	0	3	-100.0	0	3	-100.0
2,500,000-2,999,999	1	0	N/A	1	0	N/A
3,000,000+	2	2	0.0	2	2	0.0
Totals	563	639	-11.9	563	639	-11.9

January Housing Market Report

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