The real estate statistics are in. February is often a slow month and this is reflected in the sales volume. Year over year volume was down a little over 10% to $80.8M from $90.2M. The average sold price crept up just slightly from $601,964 to $607,690. Not enough volume or price change to reflect a significant trend. Units sold dropped to 133 from 150 and average days on market went from 63 to 74. Attached homes sold price went from $920,279 to $874,541 a drop of almost 5% and attached average sold price went from $465,975 to $496,975 up 6.75%.
As a seller if you are going to take anything away from these #s you might think that you should consider listing your detached home at recent comps and if you’ve got a condo you may be looking at a little bit more if prices keep going up.
There is not enough volume in February to make any real trend predictions though so we’ll have to keep a lookout for March statistics to see where the spring market is heading.