The Wilmington Regional Association of Realtors released its monthly sales statistics for January 2014.
Consider…
- The total number of units sold was down 7% compared to January 2013, however, it’s the 2nd highest number of January sales in the past seven years.
- The total dollar volume for the month is down 6% from a year ago, which may indicate a slowing of the local real estate market. It will likely take a couple more months to determine if the market is softening or if January was just an aberration from the overall positive numbers we saw throughout 2013.
- Both the number of listings coming on the market and the average number of days it takes a home to sell are continuing a positive downward trend. Both statistics tend to be leading indicators and may suggest home prices will resume their pre-January increases as fewer homes are available and those that are available are selling faster.