February 2017 Snapshot

March 3, 2017
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# of Closed Sales: 6

Average Days on Market for Solds: 74

Median Sales Price: $477500

# of news listings: 5

Months of Inventory Last Month: 2

 

After a brisk February with 75% more solds than January 2016, February was down 33%. New builds continue to dominate our market, accounting for 87% of active listings. If you’re thinking about listing, you’re only competing with two other existing homes currently for sale.

Despite the dip in solds, make no mistake the market is picking-up steam going into the real estate season. Half of the homes that sold this month were only on the market an average of 16 days. The other half were homes that had sat on the market for an abnormally long time–an average of 132 days–and finally moved. The average and median prices were both up.

Terrain a seller’s market, though the large number of new builds
requires existing homes to be meticulously prepared to sell and properly
priced.

This dynamic is going to continue for the foreseeable future.

If you have questions, I’m happy to answer them!