Active inventory remains Low
Sales volume remained stable, but showed a monthly increase in median price
The current $179,900 median sales price is 5.8% higher than the $170,000 median price of January. Year-to-year, the median price is again higher, continuing a four month trend. The Total Listing Inventory has recently been split up to more accurately display the current market. Active Listings numbered 3,281 properties and Active Short Sales Contingent showed 2,234. Active Short Sale Contingent properties are short sale properties on which initial offers have been accepted by the current owner/seller and are now waiting for lender approval. These properties are not entirely "active" since there is already a buyer for the property. The Housing Market Supply figure increased slightly (3.7%) month-to-month from 2.7 to 2.8 Months. This figure is calculated by using the Active Listing Inventory (3,281) and closed escrows (1,156). This figure represents the amount of time - in months - it would take to deplete the Active Listing Inventory (3,281) given the current number of closed escrows(1,156).
As always, i will keep you updated each month on the Market statistics. Feel free to check back this time next month for March's numbers.
clear skies,
doug reynolds
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