January 2020 What’s Happening in the Market Stats

As expected, the market has drastically picked up due to extremely low inventory and heighted Buyer activity that had been holding off purchasing during the holidays.  Since these stats are not a rolling 12 month average they are going to appear skewed due to the small sample size, but they do show year over year with many areas growing significantly from January 2019.  Pretty much every market has been on fire with Multiple offers on just about everything available for sale.  The Days on Market (DOM) have dramatically gone up, but that is primarily due to homes selling that had been on the market for a while that Sold over the holidays.  We expect to see the DOM fall significantly over the next couple months as most new listings are now selling in under 14 days & in many cases less than a week.   (Pro Tip- Buyers be prepared to put your best foot forward & Sellers to make sure their home is parade ready to get the highest dollar!)