Realtor® Tidbits:

• Buyers are coming right back into the market. Sellers can leave the remodeling bank to attract buyers but will reap the rewards of intelligent investments in easy refreshes. Think paint in neutral yet current colors, affordable and exciting lighting updates, decluttering, and enhancing spaces with simple staging techniques. Engage with a Realtor® who can help.
• We’re seeing a definitive early push from buyers wanting to get under contract before the “spring rush” begins to avoid the extra stress and competition.
• Some of the $1 million homes put on the market in November and December that didn’t sell finally received offers in January at the total asking price.
• We are starting to see increased interest in “coming soon” properties.
• Chilly weather, higher energy costs, and a new pricing structure lead to steep residential utility bill spikes. Some have reported their bills more than doubled compared to last year.

 

Quick Stats:

• Average active listings for January are 12, 429 (1985-2022)
• Record-high January was 2088 with 24,550 listings, and the record-low was set last year with 1,184 listings.
• The historical average decrease in active listings from December to January is 2.86 percent. This January’s reduction of 13.39 percent represents the third largest percentage month-over-month change.