The robust pace of existing single family home sales continued in February with 936 homes sold, an increase of 101.7% vs. February ‘08 and 12.7% vs. the prior month. Pending sales continue to outpace last year by 67.5% when 1,039 pending sales were reported in February '08 compared to 1,740 pending sales in February '09.
The number of single family homes listed on our MLS is decreasing (at the end of February, there were 10,501 active listings of existing single-family residential properties compared to 12,281 a year ago, a decline of 14.5%). While the inventory supply rose slightly to 6.0 months, it is still approximately half of what it was in February ‘08, when the supply of existing single family homes was 11.8 months.
February median price of a single family home sold with the assistance of a Realtor rose 3 percent more than January's.
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