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February Market Update

Sales Price up 18.3%

Sales Price up 18.3%

Home buyers and sellers are readying themselves for an exciting spring market. Buyers are motivated by an attractive affordability environment, while more and more sellers are receiving near top dollar for their home. We’ve come a long way over the past 12 to 18 months but we’re not there yet. Here’s how February stacked up.

Single-Family Homes New Listings were down 19.1%.
Townhouse/Condos New Listings were down 9.8%.

Single-Family Homes Pending Sales increased 22.5%.
Townhouse/Condos Pending Sales increased 21.1%.

 

Single-Family Homes the Median Sales Price was up 18.3% to $443,500.
Townhouse/Condos the Median Sales Price was up 29.8% to $285,500.

Single-Family Homes supply of Inventory decreased 75%.
Townhouse/Condos supply of Inventory decreased 78.8%.

Some consumers feel less confident but there is a significant pent-up demand from renters, first-timers, and investors to counteract it.

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