Digging Deeper: December 2020 Records
December 2020 was yet another record-breaking month. In this report, the DMAR Market Trends Committee examined the various records broken in this month.
ACTIVE LISTINGS
(Residential) 2,541 represents the lowest inventory on record. The previous low was December 2017 of 3,854.
(Detached) 1,316 represents the lowest inventory on record. The previous low was November 2020 of 1,755.
CLOSE PRICE — MEDIAN
(Residential) $460,000 represents the highest December on record. The previous record was in 2019 of $417,000.
(Detached) $507,000 represents the highest December on record. The previous record was in 2019 of $488,950.
(Attached) $332,000 represents the highest December on record. The previous record was in 2019 of $309,950.
CLOSE PRICE — AVERAGE
(Residential) $547,461 represents the highest December on record. The previous record was in 2019 of $483,208.
(Detached) $618,895 represents the highest December on record. The previous record was in 2019 of $527,003.
(Attached) $391,375 represents the highest amount on record. The previous record was in October 2020 of $391,259.
DAYS IN MLS — MEDIAN
(Residential) 7 days represents the lowest December on record. The previous low was in 2015 and 2016 of 14 days.
(Detached) 5 days represents a tie of the lowest number on record. We have seen 5 days 5 time before.
DAYS IN MLS — AVERAGE
(Residential) 23 days represents the lowest December on record. The previous low was in 2015 and 2016 of 32 days.
(Detached) 20 days represents the lowest December on record. The previous low was in 2015 of 34 days.
CLOSED
(Residential) 4,807 closed transactions represent the highest December on record. The previous high was in 2019 of 4,582.
(Detached) 3,327 closed transactions represent the highest December on record. The previous high was in 2015 of 3,267.
(Attached) 1,480 closed transactions represent the highest December on record. The previous high was in 2015 of 1,353.
MONTHS OF INVENTORY (MOI)
(Residential) 0.53 months represents the lowest number on record. The previous record low was in November 2020 of 0.71 months.
(Detached) 0.40 months represents the lowest amount on record. The previous record was in November 2020 of 0.52 months.
(Attached) 0.83 months represents the lowest amount on record. The previous record was in March & November 2016 of 0.95 months.
PENDING
(Residential) 3,625 pending transactions represent the highest December on record. The previous high was in 2018 of 3,577.
(Attached) 1,230 pending transactions represent the highest December on record. The previous high was in 2018 of 2,602.
If there is a home that you would like more information about, if you are considering selling a property, or if you have questions about the housing market in your neighborhood, please reach out. We’re here to help.
