January 2010 proved to be a great improvement in terms of number of transactions through the Multiple Listing Service as compared to January 2009.  The large increase from 2,670 sales in January 2009 to 4,986 sales in January  2010 were a direct reflection of the end of the recessionary period in the market seen last year at this time. Due to the affordable cost of home ownership in today’s Real Estate market, buyers are less hesitant to take advantage of the booming market.

The average selling price for a home in January 2010 was up to $409,058 when compared to $343,632 in January 2009.  It is estimated that the first quarter of this year will be a success in terms of sales, but weaker market conditions are forecasted for the second half of 2010.

The median price in January 2010 was $350,000.
The median price in January 2009 was $303,000.

Single Family Residences

The number of New Listings shows a very subtle decrease from 10,360 in January 2009 to 10,021 in January 2010.

There are significantly less Active Listings with 20,450 in 2009 and 12,052 in January 2010.  This shows a decline of 41%.

The number of days on the market has also significantly decreased by 43% from 49 in 2009 to 28 in January 2010.  

In conclusion, it can be said that the changes in market conditions in the past year are a direct reflection of the statistics previously mentioned. With less houses on the market, there is less for eager buyers to capitalize on. All the while, the decrease in the number of days on the market shows that people, for the most part, are interested in buying now while the market is hot!