We have learned, with experience, not to judge the market by only one month of data. However, there may be something interesting going on. In January there were only 36 sales, down 33% from one year ago. There were 22 home sales, 4 vacant lots and 5 commercial sales (the rest were condominium and cooperative properties).The total sales dollars for the month were $72,517,000, down from $107,047,000 (-48%) in 2018. The average selling price is $2,014,000 (compared to $2,214,000 at the end of 2018).
The average selling price as a percentage of list price is 82% for January (down 8%) and the average months on the market for these 36 sales was 11 months. It will be interesting to see how the market shakes out the rest of the first quarter.