We continued our march towards higher median sales prices in January despite less houses being sold and inventories building. Seeing roughly five months of inventory in the graphic below is a little deceiving as we are entering our busiest transaction time of the year (which will naturally burn through more inventory). As I have been representing a fairly equal amount of both buyers and sellers in 2023, I can tell you that the market actually feels pretty balanced right now. New listings are attracting significant attention; however, buyers have more leverage than at virtually any time in 2022.
