The roller coaster we have been on with a shortage of properties on the market was so extreme during the Holidays and in the beginning of the year, we even started talking about “weeks” of inventory on the market. To have a balanced market we should have about 6-9 MONTHS of inventory, and now we are talking about a few weeks! Demand through the Holidays was strong as listings slowed even more than the fall, creating an even more constrained market.
This is the new normal for our area, at least for the foreseeable future. During 2015, 46,000 new jobs were created, along with builders that can’t keep up with demand, the shortage doesn’t appear to have an end , at least for now!
January numbers for all of our neighborhoods!
Spotlight on Mead
Here are the sold properties in the town of Mead for January