Below is an excerpt from the Regional Multiple Listing Service’s most recent “Market Action” report that comes out monthly and is e-mailed to all member Realtors. This is data specific to the Southwest Washington Area market.
January Residential Highlights
Southwest Washington startedthe year with a bit of mixed activitythis January. Closed sales, at 492,ended 7.4% stronger than lastJanuary when 458 closings wererecorded but fell 32.5% short of the729 closings recorded last month inDecember.
New listings, at 628, ended 13.3%below the 724 new listings offeredlast year in January 2016 but 56.6%ahead of the 401 new listings offeredlast month in December. Similarly,pending sales (586) fell 15.8% shortof January 2016 (696) but ended17.4% ahead of December (499).
Year to Date Summary
Total market time increasedslightly in January, ending at 62days. During the same period,inventory rose to 2.2 months..
Average and Median Sale Prices
Comparing the average price ofhomes sold in the twelve monthsending January 31st of this year($330,400) with the average priceof homes in the twelve monthsending January 2016 ($299,800)shows an increase of 10.2%. Thesame comparison of the medianshows an increase of 9.5% over thatsame period.
Below is a table with data from the RMLS. Note that Appreciation is based on a comparison of the rolling average sale price for the last 12 months with the 12 months prior. Days on Market is the number of days from when a property is listed to when an offer is accepted on that same property. If a property is re-listed within 31 days, DOM continues to accrue; however, it does not include the time that it was off the market: