The final month of the year reporting in single family homes, as well as condominium units, ended the years with a total of 385 close sales for the month of December 2022. When looking at prior year, December 2022’s 385 units vs December 2021’s 675 units marks a decline of 43% YOY. This continues to show a consistency in the slowdown of the market in terms of closing units due to multiple market variables. Slowing the trend, the average price per unit which has been increasing YOY, appears to be flattening as the December 2022 average was $418,562 up just 0.2% from the December 2021 closed sales price of $417,357. Median closed sales price for December 2022 was $384,750 declined YOY by 1.3% from December 2021 median closed sales price of $390,000.
Year end 2022 closed sales through December totaled 5,574. This total finalized for the year down 20.1% compared to closed sales reported through the end of December 2021 of 6,973. The year-end average sales price ended at $442,185 up 11.5% when compared to 2021 which ended with an average closed sales price was $396,661. The median sales price year end closed for 2022 was $400,000 up 10.2% to last year’s year to date sales price through the end of 2021 at $363,002.
Inventory, at the time of this report, totals 650 properties or 1.7 months of inventory, a decline from last months 2.1 months of inventory. New construction closed sales this month were up 12.8% at 64 in December 2022 compared to 57 in the month of November 2022. Ending the year, new construction closed sales are down 28.9% at 808 v. 977.
Active |
New |
Expired |
Pending |
Closed |
Average |
Median |
Total |
New Home | ||
Dec 22 | 650 | 304 | 200 | 304 | 358 | $418,562 | $384,750 | $149,845,135 | 64 | |
Dec 21 | 224 | 395 | 86 | 457 | 675 | $417,357 | $390,000 | $281,715,810 | 91 | |
Nov 22 | 845 | 490 | 196 | 399 | 395 | $439,148 | $395,000 | $173,463,361 | 57 | |
Oct 22 | 998 | 683 | 158 | 442 | 477 | $440,732 | $395,000 | $210,229,379 | 49 | |
Sep 22 | 1049 | 847 | 137 | 530 | 580 | $453,006 | $405,500 | $262,473,073 | 54 | |
Aug 22 | 1039 | 902 | 89 | 703 | 629 | $445,867 | $420,000 | $280,450,847 | 808 | |
Jul 22 | 1011 | 1008 | 98 | 622 | 583 | $461,005 | $420,000 | $268,795,162 | 57 | |
Jun 22 | 798 | 1085 | 54 | 663 | 704 | $478,932 | $440,000 | $337,168,274 | 72 | |
May 22 | 479 | 972 | 43 | 785 | 638 | $481,543 | $450,000 | $307,224,331 | 74 | |
Apr 22 | 352 | 855 | 30 | 709 | 570 | $460,388 | $425,000 | $262,420,973 | 68 | |
Mar 22 | 233 | 739 | 25 | 588 | 538 | $457,967 | $430,000 | $246,386,232 | 77 | |
Feb 22 | 237 | 542 | 29 | 476 | 347 | $426,067 | $400,000 | $147,845,231 | 53 | |
Jan 22 | 209 | 493 | 43 | 423 | 411 | $413,100 | $380,000 | $169,784,130 | 51 | |
YTD 22 | N/A | 9,119 | 1,344 | 6,636 | 6,623 | $415,593 | $415,000 | $2,990,905,847 | 808 | |
YTD 21 | N/A | 9,016 | 465 | 7,425 | 8,238 | $400,612 | $370,000 | $3,300,247,454 | 999 |