This chart provides a week-by-week comparison of residential property listings under contract for the current year versus the previous year, highlighting trends across all residential property types in contingent, pending, or closed statuses within a seven-day range.
Key Takeaways:
Seasonal Fluctuations
The data reveals typical seasonal trends. Both years show a dip in the number of contracts around late December and early January, likely reflecting a slowdown due to the holiday season. However, a notable rebound is visible in January, signaling the start of the spring market ramp-up.
Year-over-Year Trends
In the earlier part of the data (October to mid-November), the current year consistently outperforms the previous year in terms of listings under contract.
However, the trend flips in late November and December, where the previous year shows slightly stronger performance. This could reflect varying market dynamics, such as changes in interest rates, buyer confidence, or inventory availability.
By February, the current year again edges out the previous year, suggesting renewed buyer activity as the market gains momentum.
Market Resilience
Despite fluctuations, the number of contracts in January and February of the current year demonstrates strong demand. The consistent upward trend in February indicates a promising outlook for the spring selling season.
Overall Activity
The highest numbers of contracts are seen in mid-October for the current year and late November for the previous year, underscoring periods of high buyer activity.
Insights for Buyers and Sellers
For Sellers: The early-year rebound suggests a strategic opportunity to list homes as buyer activity picks up. Properly priced, well-presented properties stand to benefit from heightened interest in the coming months.
For Buyers: The upward trend highlights increasing competition. Acting quickly on well-priced homes is key to securing a purchase as the market heats up.
Understanding these trends helps both buyers and sellers strategize effectively in an ever-changing market. While 2024 presented some challenges, 2025 is already showing signs of resilience and growth, setting the stage for a competitive and active real estate season ahead.