OK, so I know we are now in March, but we have gotten our numbers in for February and the media is still talking about how January was a bad month. Really? We were up in number of sales from the previous January. Just because we were less than December doesn't accurately describe how we did in January. Enough venting about the media reporting old and inaccurate information. On to February's Numbers!!
Here are numbers and an outlook from my broker, Jim Sexton "February's initial numbers show 6528 closed transactions - that's +19% from February 2009. YTD increase is 21%. The big news for the next 30-60 days will probably be on the price front since February's Avg. price shows a +$2000 increase over 2/09 and the Median price matched 2/09. We haven't had a year over year increase in Avg. Sales Price in 30 months. That will be big news once the media starts reporting it".
Did you catch that? $2000 increase and a year over year increase! This is excellent news and really deserves everyone's attention. The market hit bottom last April and we have started increasing. Hopefully the tax credit that ends April 30th will keep up our momentum until the big Spring and Summer rush that we see each year.
Either way, it is a great time to buy because who knows how long until the prices start to increase even more. Don't forget if you are a first time homebuyer you are eligible for $8,000 tax credit and current homeowners who have owned for 5+ years are eligible for $6500 tax credit, so hurry time is running out.