Welcome to March's Market Update. Lets take a look at residential real-estate activity in your area during the month of February. The number of active listings was down 5% from one year earlier, and up 11% from the previous month. This recent increase reflected a larger selection of homes for buyers to choose from. As you can see, the median listing price for the month was just under 480-thousand dollars. Compared to last year, the average number of days units spent on the market before being sold was down 23%. This lower number of days may signal a positive trend in the local inventory-turnover rate. The median sale price was 380-thousand dollars. The number of units sold decreased 25% year-over-year, and increased 200% month-over-month. Despite a slight annual decrease, this upward monthly sales trend indicates positive momentum. Thanks for watching. We hope you use this information to make smart, informed decisions in your upcoming real-estate transactions. Feel free to contact us for more information or further assistance.
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