January 2017 Preston Report2/27/2017
January starts off slow for closings, down 21 transactions from last year or down 8.6% which could be seen with pending numbers for December down 14% from the year before. Good news is this month pending sales are only 2.5% to this time last year.
Active listing are up 6.1% or 90 more listings than last year. Holding more steady this year being that is up 34.1% over two years ago.
New homes sales had the best January in three years. That is not much in total sales being it is January, but it bucked the trend of new home sales slacking compared to existing home sales. This month it was the existing falling back from last year and the new improving.
Some price ranges saw some good rises in pending sales or percentages. Like new homes from $450-500k and $500-700k doubled and tripled in pending. And total sales in the price range of $225-250k also doubled from 28 to 56 pending sales.
With Pending sales back up maybe we will keep the trend the first five months of up and down sales to counter act this first month.