Long time, no chat! Are you interested in what the current real estate market is doing?! The real estate market has been mixed all over the board but we did see some gains last month.
In February pending sales showed a 19.0% increase over the offers accepted in January (2017), but a 15.0% decrease when compared to February 2016. New listings ended 12.9% under the new listings offered last year in February but were 14.0% warmer compared to the listings offered in January (2017). Closed sales ended 7.9% below February 2016 and 9.6% below closings recorded in January (2017).
Inventory edged slightly higher in February, ending at 1.9 months. Total market time rose to 62 days during the same period.
Comparing the average price of homes sold in the twelve months ending February 28 of this year ($400,800) with the average price of homes in the twelve months ending January 2016 ($357,400) shows an increase of 12.1%. In the same comparison, the median has increased 12.9% from $310,000 to $350,000.
It still continues to be a good sellers market!