Winter weather had an enormous impact on the local housing market in January. Personally I had to cancel showings of my listing and showings for buyers many times due to the weather. I even showed a home that had lost electricity last week due to the storm. Sales and pending sales are down compared to January 2013. It could be an indication of slower sales but I think we will see pent up demand and there will be a lot of sales in March and April.
Here’s a quick snapshot of all the counties in the area (Click on the picture to enlarge):
Here are statistics on single family homes in the area for January 2014. When you compare January 2014 to January 2013 on these charts you’ll find that inventory is down, sales are down and the days that homes sit on the market are down.
Email me at Laurajlaws@gmail.com if you are looking for specific statistics in a school district or a township. Real estate is local and these numbers are averages so in certain areas within the 3 counties you will see complete opposite trends happening.
Real estate is cyclical so it is important to look at year over year statistics. This data is compiled from sales reported to Trend, our local MLS.