Ouch!, a record month for home sales - fewer homes sold this January than any month since January 2012. (the charts only go back to Jan 2013, but please,take my word for it)
On the other hand, sold prices sure shot up.
The average sold price zoomed in January, zooming higher than any month for the last 3 years. And the median also held its own, it’s the 2nd highest it’s been in the last 13 months.
There was an unusually large sale in January, for $3.7mil, and that’s skewing the average, but with the median also in positive territory, who knows, maybe prices are rising. Or maybe buyers just chose to buy more higher priced homes. And January is just one month, so maybe it’s just a fluke, it happens. So don’t get too excited, or, if you’re a buyer, too depressed.
By the end of March we should have a clearer picture of where prices are headed.
*all sales data is for single family homes only.
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