As you can see from the picture, single family home prices were up 13% in February compared to last year. And, condo/townhouse sales prices were up 8%!
Average Days on Market of homes and condos, we see it close at 21 and 36 days compared to last year.
So, the demand is there, and there is a 5% drop-in single-family homes for sale and a whopping 30% drop in condo/townhouse for sale. Are Sellers waiting for the warmer months to put their properties on the market? Is there too much uncertainty with interest rates and/or the economy?
I will continue to keep you informed as we move through the spring market into the summer.
Please let me know if you have any questions.
