Local Market Update:
We had 58 new listings come to market last week, vs 64 in 2018, 58 in 2019, 74 in 2020, and 48 in 2021.
51 properties went under contract, in contrast with 58 in 2018, 62 in 2019, 95 in 2020, and 77 in 2021.
We had 1.49 months supply of inventory, in comparison with 2018 (1.81), 2019 (1.72), 2020 (1.28), and 2021’s .87 MSI.
So, although nationally there is lots of press about the shortage of inventory, from our new listing numbers and our months supply of inventory, we’re again within the range of what has been historically normal for our local market. Keep in mind that at this time in 2020, COVID hadn’t yet hit; January and February 2020 numbers were representative of the norm.