There was a total of 13 closed sales vs. 250 active listings which produced an absorption rate of 5.2%. 49 new listings hit the market in Jan., the exact same number as January 2009, while the 16 pending sales for this year were just slightly better than the 13 from last year. There were 4 single-family homes ranging from a low of $310,00 to a high of $815,000. 9 condos closed ranging from $185,000-$600,000.
Overall, the market is somewhat sluggish and the adsorption rate of 5.2% is in the buyer’s favor with only slightly better than 5 out of every 100 homes selling per month.