Housing Statistics - December 24
The number of for sale listings was up 22.9% from one year earlier and down 27.4% from the previous month. The number of sold listings increased 21% year over year and decreased 0.2% month over month. The number of under contract listings was down 8.6% compared to previous month and up 21% compared to previous year. The Months of Inventory based on Closed Sales was 1.4, the same as the previous year.
- The Average Sold Price per Square Footage was down 2.4% compared to previous month and up 3.1% compared to last year.
- The Median Sold Price was the same as last month. The Average Sold Price also decreased by 2.5% from last month. Based on the 6 month trend, the Average Sold Price trend was “Depreciating” and the Median Sold Price trend was “Depreciating”.
- The Average Days on Market showed a upward trend, an increase of 16.7% compared to previous year. The ratio of Sold Price vs. Original List Price was 98%, an increase of 1% compared to previous year.
| Category | Dec. 2024 vs. Nov. 2024 | % Change | Dec. 2024 vs. Dec. 2023 | % Change | Oct. 2024 to Dec. 2024 vs. Previous Year | % Change |
|---|---|---|---|---|---|---|
| For Sale | 1,220 vs. 1,680 | -27.4% down | 1,220 vs. 993 | 22.9% up | 1,220 vs. 993 | 22.9% up |
| Sold | 858 vs. 860 | -0.2% down | 858 vs. 709 | 21% up | 2,769 vs. 2,284 | 21.2% up |
| Pended | 761 vs. 833 | -8.6% down | 761 vs. 629 | 21% up | 2,575 vs. 2,143 | 20.2% up |
| Avg. Sq. Ft. Price (Sold) | 329 vs. 337 | -2.4% down | 329 vs. 319 | 3.1% up | 336 vs. 328 | 2.4% up |
| Avg. Days on Market | 35 vs. 30 | 16.7% up | 35 vs. 30 | 16.7% up | 32 vs. 25 | 28% up |
| Sold/List Diff. % | 98 vs. 98 | 0% | 98 vs. 97 | 1% up | 98 vs. 98 | 0% |
| Avg. Active Price | 704 vs. 682 | 3.2% up | 704 vs. 727 | -3.2% down | 694 vs. 721 | -3.7% down |
| Avg. Sold Price | 597 vs. 612 | -2.5% down | 597 vs. 566 | 5.5% up | 605 vs. 581 | 4.1% up |
| Months of Inventory (Closed Sales) | 1.4 vs. 2 | -30.7% down | 1.4 vs. 1.4 | 0% | 1.3 vs. 1.3 | 0% |
| Residential | 2 Bedrooms | 3 Bedrooms | 4 Bedrooms | 5+ Bedrooms | All Bedrooms |
|---|---|---|---|---|---|
| Closed |
#Units: 153 Dollar Value: $61,890,126 Average List Price: $406,340 Average Close Price: $404,511 Average Market Time: 40 Average Square Feet: 1095 % of List Price: 99.55% |
#Units: 467 Dollar Value: $246,432,970 Average List Price: $530,092 Average Close Price: $527,694 Average Market Time: 35 Average Square Feet: 1535 % of List Price: 99.55% |
#Units: 295 Dollar Value: $189,735,503 Average List Price: $646,648 Average Close Price: $643,171 Average Market Time: 35 Average Square Feet: 2117 % of List Price: 99.46% |
#Units: 73 Dollar Value: $66,552,333 Average List Price: $935,703 Average Close Price: $911,676 Average Market Time: 42 Average Square Feet: 2981 % of List Price: 97.43% |
#Units: 988 Dollar Value: $564,610,932 Average List Price: $575,699 Average Close Price: $571,469 Average Market Time: 36 Average Square Feet: 1747 % of List Price: 99.27% |
Property Sales (Sold)
December property sales were 858, up 21% from 709 in December of 2023 and 0.2% lower than the 860 sales last month.
Current Inventory (For Sale)
Versus last year, the total number of properties available this month was higher by 227 units of 22.9%. This year’s bigger
inventory means that buyers who waited to buy may have bigger selection to choose from. The number of current inventory was down 27.4% compared to the previous month.
Property Under Contract (Pended)
There was a decrease of 8.6% in the pended properties in December, with 761 properties versus 833 last month. This month’s pended property sales were 21% higher than at this time last year.
The Average Sold Price per Square Footage was Depreciating*
The Average Sold Price per Square Footage is a great indicator for the direction of property values. Since Median Sold Price and Average Sold Price can be impacted by the ‘mix’ of high or low end properties in the market, the Average Sold Price per Square Footage is a more normalized indicator on the direction of property values. The December 2024 Average Sold Price per Square Footage of $329 was down 2.4% from $337 last month and up 3.1% from $319 in December of last year.
* Based on 6 month trend – Appreciating/Depreciating/Neutral
The Days on Market Showed Upward Trend*
The average Days on Market (DOM) shows how many days the average property is on the market before it sells. An upward trend in DOM trends to indicate a move towards more of a Buyer’s market, a downward trend indicates a move towards more of a Seller’s market. The DOM for December 2024 was 35, up 16.7% from 30 days last month and up 16.7% from 30 days in December of last year.
The Sold/Original List Price Ratio Remains Steady**
The Sold Price vs. Original List Price reveals the average amount that sellers are agreeing to come down from their original list price. The lower the ratio is below 100% the more of a Buyer’s market exists, a ratio at or above 100% indicates more of a Seller’s market. This month Sold Price vs. Original List Price of 98% was the same as last month and up from 1% in December of last year.
* Based on 6 month trend – Upward/Downward/Neutral
** Based on 6 month trend – Rising/Falling/Remains Steady
The Average For Sale Price was Neutral*
The Average For Sale Price in December was $704,000, down 3.2% from $727,000 in December of 2023 and up 3.2% from $682,000 last month.
The Average Sold Price was Depreciating*
The Average Sold Price in December was $597,000, up 5.5% from $566,000 in December of 2023 and down 2.5% from $612,000 last month.
The Median Sold Price was Depreciating*
The Median Sold Price in December was $550,000, up 2.8% from $535,000 in December of 2023 and the same as last month.
* Based on 6 month trend – Appreciating/Depreciating/Neutral
A comparatively lower Months of Inventory is more beneficial for sellers while a higher months of inventory is better for buyers.
*Buyer’s market: more than 6 months of inventory
Seller’s market: less than 3 months of inventory
Neutral market: 3 – 6 months of inventory
Months of Inventory based on Closed Sales
The December 2024 Months of Inventory based on Closed Sales of 1.4 was the same compared to last year and down 30.7% compared to last month. December 2024 was Seller’s market.
Months of Inventory based on Pended Sales
The December 2024 Months of Inventory based on Pended Sales of 1.6 was the same compared to last year and down 19.8% compared to last month. December 2024 was Seller’s market.