January Real Estate Statistics
What do these numbers mean to you?
Avg Close Price $516,367 is up 8% over Jan 2023 ($477,225), but down 18% over Dec 2023 ($627,500)
In the past 5 years, 2022 was the only year where buyers were paying more than list price. Every other year on average, buyers were paying less than list price. So, if you list your house…you may have to accept that getting less than list price is really the current trend and very common over the past 4 of the 5 last years.
Over the past 5 years, 2022 has the highest average CLOSING price and the lowest average days to sell. 2023 had the highest average LIST price (over 3% higher than 2022). So why would 2022 have the highest closing price and 2023 have the highest list prices: In 2023, buyers were not paying full list price and/or sellers were asking more than the market was demanding and in 2022 buyers were paying more than list price.
...And
12 homes sold in January, compared to only 7 in Jan 2023 and 5 sold in Dec 2023
Over the past 5 years, Jun-Sep has had the highest quantity of home sales, however, there does not seem to be a correlation between days to sell and the actual sale price. The sale price varies by month and season. In the past 5 years (2019-2023), the highest average close prices have been in October, March, December, May, and last year September, respectively. So, with that said, the highest average close price isn’t driven by the time of year but correlates more to what is going on in the world. In 2022, mortgage rates remained historically low, there was a shortage of housing inventory, and pandemic-driven changes. In 2023, to combat inflation we saw central banks, notably the Federal Reserve in the U.S., adjust interest rates up; we saw actual inflation, supply chain disruptions, and decreased investor activity.
If you are considering listing your house and you want the best price…the time of year isn’t necessarily a factor. If you want to sell your home quickly, summer is the time to sell, but that doesn’t necessarily mean you will get the highest price – or well, you might
The New Weston Model at Robson Ranch**
**I rebate 1% of my commission when I represent you in a New Build! (That’s big bucks you can use in the design center or toward an upgraded homesite)
For a little more perspective...
Jan 2024 the average days to sell a home in Robson Ranch was 57 days, which is 21 days more than Jan 2023, and 16 days less than Dec 2023.
- Over the past 3 months, the average time to sell a home in Robson Ranch has been approximately 2 months
- Over the past 12 months, the average days has been 47 days.
- Over the past 5 years, July through October have shown themselves to be the months with the lowest average days (average of 29 days) on the market.
and then just some really cool info...
- Avg List price $481,357, up $53,472 over Jan 2023, down $77,770 from Dec 2023
- Avg Close Price/sqft $247, down 5.7% over Jan 2023 ($262), down 9.9% over Dec 2023 ($274)
- Avg List Price/sqft $253, flat over Jan 2023, down 9% over Dec 2023 ($264)
- Avg Listings 18, down by 1 over Jan 2023 (19), down by 4 over Dec 2023 (22)