With January behind us, we can review the sales data for the first month of 2020 for single family homes on Hamilton County. January is typically the slowest month for closed sales. Here is what we saw:
- Sales were up 9.0% from January 2019 to January 2020 (535 vs 491).
- Median sales prices were up 16.2% compared to January 2019, with particularly strong increases for 4 and 5+ bedroom homes
- Sharp decreases in days on market (DOM) were seen for 3, 4, and 5+ bedroom homes.
- However, the DOM increased for 2 bedroom homes compared to the same month last year for the third consecutive month.
The increase in DOM has yet to translate into slowing prices for 2 bedroom homes, but this will be something to watch as 2020 progresses and could be the first sign of waning demand from first-time home buyers and those that are looking to downsize.