We started 2016 with an inventory of just 16 homes, and we ended the first month of the year with just 20. Despite the persistent low inventory, we are actually still right on pace with 2015. This January, we saw 30 new listings hit the market - last January there were 35. Inventory was tight at the end of Jan '15, just as it is now at the end of Jan '16.
However, if the market plays out this February the way they did last February, things are about to turn around. In Feb of 2015, 52 new listings hit the market, and in March 67. It is fairly typical for the market to remain lethargic throughout the first month of the year, but as winter wraps up and we transition into Spring, inventory should start to see some reinforcements coming its way. Stay tuned!
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