February Residential Highlights:
There were 142 new listings in February 2020, an increase from February 2019 (128) and 20.7% fewer than last month in January 2020 (179). Pending sales (151) increased 15.3% from February 2019 (131) and and decreased 6.2% from last month January 2020 when 161 offers were accepted. Closed sales (115) increased 13.9% from February 2019 (101) and held steady with the 115 closings recorded last month in January 2020.
Inventory and Time on Market:
Inventory in February fell slightly to 3.5 months, with total market time increasing to 100 days.
Year to Date Summary:
Comparing the first two months of 2020 to the same period in 2019, new listings (323) increased 5.2%, pending sales (303) increased 13.1% and closed sales (234) increased 17.0%.
Average and Median Sales Prices:
Comparing January 2020 to January 2019, the average sale price has decreased 12.3% from $262,900 to $230,500. In the same comparison, the median sale price has decreased 9.5% from $242,500 to $219,500.
In the link below, you will find the latest market statistics for home sales in your neighborhood!
As always, you can find additional information on our website and we would love to connect with you on Facebook!
*Inventory in Months is calculated by dividing the Active Residential Listings at the end of the month in question by the number of closed sales for that month. This number includes proposed and under construction homes.