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 up 19% from one year earlier, and up 8% from the previous month. This continued upward trend reflected a healthy inventory for buyers to choose from. As you can see, the median listing price for the month was just under 490-thousand dollars. Compared to last year, the average number of days units spent on the market before being sold was up 79%. This higher number of days may signal a slowdown in the local inventory-turnover rate. The median sale price was just over 370-thousand dollars. The number of units sold decreased 9% year-over-year, and decreased 29% 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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