Home Sales Down in January as Inventory Remains at Record Low Levels

Closed sales for single-family homes fell slightly in January, while prices rose more than three percent. Condominium sales saw a drop in sales as well, with prices rising over six percent. Inventory dropped to a record low for the month of January. This is the second month in a row that the number of single-family homes for sale has been below the 10,000 mark.

Read more in the full January 2018 Closed Sales Release.

  • January single-family home sales went down 1.2% over last year (3,414 sales in 2018 from 3,455 sales in January 2017)
  • January single-family median prices went up 4.0% year-over-year (to $369,000 in 2017 from $354,900 in January 2017)
  • January condo sales went down 6.7% and median prices went up 6.1% (to $355,000)
  • Inventory in January went down 31.8% to 9,188 and condominiums available down -6.7% to 1,231
  • SF listings added to the market in January went down 14.3% over last year. (3,557 from 4,152 in 2017)
  • Condo listings added to the market went down 15.0% over last year. (1,556 from 1,831 in 2017)