December in Columbia Valley's real estate market was a tale of contrasting trends. Sales dipped slightly by 3.03% to 32 homes, a subtle yet notable change. The more dramatic shift was seen in new listings, plummeting by 40.98% to just 36, hinting at a tightening market. Buyers faced higher prices, with average list and sale prices jumping by 18.25% and 17.36% respectively. The market pace slowed, as evidenced by a 49.97% increase in average days on market. Inventory rose modestly, culminating in a 7.94-month supply, reflecting a buyer's market with more options but at higher costs.
This landscape hints at a cautious seller's market emerging in the coming months, with limited inventory driving up prices. However, the increased time on market suggests buyers are deliberating more, possibly waiting for the right opportunity or price adjustment. This dynamic could lead to a competitive spring market, where well-priced properties may attract multiple offers, while overpriced listings linger. As always, market conditions are subject to change, making it essential for both buyers and sellers to stay informed and adaptable.