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 3% 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 1.5-million dollars. Compared to last year, the average number of days units spent on the market before being sold was up 91%. This higher number of days may signal a slowdown in the local inventory-turnover rate. The median sale price was just under 1.05-million dollars. The number of units sold increased 16% year-over-year, and increased 83% month-over-month. These figures may indicate that buyers have been taking advantage of opportunities in this market. 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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