📊 January Market Highlights
• Sales activity moderated in January, with 1,234 homes sold, representing about a 15% decrease compared to last January. This is fairly typical for the first month of the year as buyers and sellers regroup after December activity.
• Inventory continued to rise, with 4,391 active listings, the highest for January since 2020, up roughly 21% year-over-year.
• Sales-to-New-Listings Ratio dropped to ~44%, meaning there are more homes available relative to how many are selling. That gives buyers more choice and puts mild pressure on pricing.
• Overall benchmark price for all residential properties was about $554,400 — ~5% lower than January 2025.
• Days on market increased to around 53 days, suggesting that properties are taking a bit longer to sell than they did this time last year.
📉 What’s Happening by Property Type
Detached homes continue to be relatively resilient:
• Detached properties saw a small sales decline (~2%) with months of supply near balanced levels and prices softening slightly.
Higher-density segments saw larger shifts:
• Apartment and row homes experienced steeper sales declines (about 25–26%), inventories climbed, and months of supply reached levels where buyers have more negotiating power in some price ranges.
📌 What This Means for Buyers & Sellers
✔ For Buyers: Increased inventory means more options and less competition than we’ve seen during the past couple of years. Prices are stabilizing or softening slightly, especially in condo and townhouse segments. For many buyers, patience and strategy can pay off.
✔ For Sellers: While overall prices are down modestly from 2025, well-priced homes in good condition are still attracting attention. In detached markets where supply remains closer to balanced, properties still move at a reasonable pace. Pricing carefully to match market conditions will be key.
✔ For Investors: The shifts we’re seeing in inventory levels and segment-specific performance may offer opportunities, particularly where price corrections have been more significant in apartment-style and row homes.
🌱 Seasonal and Broader Context
The January report typically reflects slower activity as we transition into the spring market. Historically, this is one of the busiest parts of the year. As we move into February and March, we’ll get a clearer sense of whether buyer interest rebounds and how inventory trends continue.
In short: the market feels balanced, leaning slightly toward a more buyer-friendly dynamic compared to the extreme seller-market conditions we experienced in prior years. For buyers, that means better choice and negotiating power. For sellers, it means thoughtful pricing and staging are more important than ever.