Here’s your monthly real estate update for our area for February 2017. Remember the data lags by one month so March’s report shows activity for the preceding month – February!
The real estate market continues to build momentum as we head into Spring. Take a look at this…
- The number of properties that closed in February was up 12% YTD vs 2016! Over the last 12 months, resale closed properties have increased by 15.4% with the average price improving by 3.5%.
- The total number of active listings, whether looking at the overall market or just new construction, are down by 35% vs 2015.
- By comparing active listings to total sales during the last 12 months there is currently a 4.1 month supply of inventory, both overall and for newly built homes.
I hope you find this information useful! Stay tuned for next month’s report…
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