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 27% from one year earlier, and down 20% from the previous month. This smaller inventory means that buyers who waited to buy may have had a smaller selection to choose from. As you can see, the median listing price for the month was just under 470-thousand dollars. Compared to last year, the average number of days units spent on the market before being sold was up 61%. This higher number of days may signal a slowdown in the local inventory-turnover rate. The median sale price was just under 370-thousand dollars. The number of units sold decreased 14% year-over-year, and decreased 35% month-over-month. Fewer sales could indicate an opportunity for buyers to negotiate better terms. 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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