"If it felt like things were a little slow last month, your feelings were accurate. Only 34 new listings came to the market during December and there were only 66 closings. Compare that to the monthly average for those two metrics—135 new listings/mo and 92 closed sales/mo. It continues to take about 1½ months for sellers to find their buyers, sellers reduced their prices a little more (0.2%) and found their buyers negotiating harder (0.3%) than in November and they overall realized 4.1% less in net proceeds from initial asking price (down 0.5% from November) when all was said and done. Of course, this was all due to the holidays and the seasonal winter slowdown--things will pick up starting this month. We didn’t make it over the $1 million average selling price point this year, but we’re still 7% higher than we were a year ago."
Tupper Briggs
REALTOR® Emeritus of Tupper's Team at Madison & Co. Properties
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