RELATED: New tax bill, interest rates could impact local home sales
“The prices reflected the demand in this tight-inventory market, with the average sale price for January landing at $140,193, up four percent from last January, and a median sale price bumping up to $123,500, up three percent from last year,” the association said.
Low inventory also pushed average prices up, from $140,193 in January last year to $145,720 last month, the organization said.
RELATED: Realtors report good year for home sales, prices rise
Relatively low inventory continues to be an issue, with entries of single-family homes and condos falling seven percent in January compared to last January.
The total of active listings for sale at month’s end stood at 3,408, down from the 4,091 active listings that were available last year at the same time.
RELATED: Local home sales prices heat up once again
The supply of listings, based on January’s pace of sales, was four months. That pace was more aggressive than the five month supply of listings during January 2017.
About the Author
