December is almost always the month with the least amount of listing activity with around a 30% drop in new listings going on the market. This makes sense because most folks avoid having strangers in their home while presents are under the Christmas tree and they don’t want to coordinate showings and appointments during the holidays. On the sellers side, December 2024 is in line with other Decembers and matches what happens every year. 

For the buyer’s side, small drops in the Federal Funds rate meant more people than normal were still home shopping. If you monitor properties going under contract, there’s typically around a 20% drop in activity in December. Last month, that number was only 7%. January is going to be a busy month for buyers if that trend continues.

If you match up both of those stats, here’s the takeaway: Supply of inventory dropped from 6,791 total properties for sale to 6,118. With fewer homes going on the market and more than normal buyer activity, our supply dropped from 5 months of inventory to 4.4 which is a significant drop. Typically, we see more buying and selling in January but I’m curious to see if it’s enough to catch up the December imbalance. We have been in a steady increase of months supply of properties since March of 2022. This is sharpest decline in inventory we’ve experienced in almost 3 years. 

Whatever your situation is, if you’re thinking of buying or selling, Adrianne and I would love to learn more about your situation and see how we can assist you achieve your goals. We’re here to help!