The real estate market in January 2023 showed a decline in certain areas compared to the same period in 2022. New listings decreased by 8.8% from 136 in January 2022 to 124 in January 2023. Pending sales also decreased by 13.2% from 144 offers accepted in January 2022 to 125 offers accepted in January 2023. The number of closed sales also decreased by 30.6% from 121 closings in January 2022 to 84 closings in January 2023.
In terms of inventory, there was an increase to 4.0 months in January 2023, and the total market time increased to 70 days. The average sale price also decreased by 2.3% from $316,400 in 2022 to $309,100 in 2023, while the median sale price decreased by 7.9% from $299,000 in 2022 to $275,500 in 2023.