W.B.O.R February stats

W.B.O.R February stats

In February, our residential sales were 66 units, up 43% from last month (44 sales)and up 17% from Feb ’12 (54 sales).  This is the highest February since 2009, the year after I started in Real Estate, so as they are saying, it does look good for our business!

  The average selling price of $148,824 is up 21% from last month, which was $123,142. And it's up 7% from the same month last year, which was $139.643.

  February sales included 9 foreclosures, 14% of the month’s sales.  Average price on foreclosures was $72,883. The one that I had the Buyer for was in the mid 60's.  This year to date sales include 21 foreclosures with average selling price of $68,204.  February sales, excluding foreclosures, were 54 sales with an average selling price of $161,481.  Foreclosures are still hurting our average selling price, along with the number of Short Sales that we are starting to get.

Our inventory to sales ratio decreased from January; we now have 15.3 months supply, compared to 22.2 last month. We have 963 active residential listings. The Spring home buying season is starting to heat up with several Military families already contacting me for moves starting in April and going into mid Summer.

  Ten years ago (Feb’03), the inventory was 1 month's, 48 sales, and the average selling price was $103,290.  It was a Sellers’ Market.  Five years ago (Feb’08), inventory was 8.7 months, 79 sales, and average selling price was $159,970.  It was a Buyers’ Market then, as it is now. I think it will flip back in the next five years.

  In addition to the residential sales, February had 4 commercial sales, average price $53,725, and 9 lots/land sales, average price $23,236. 

  Our Independent Office, Team Linda Simmons, is still #1 in Sales, ahead of Coldwell Banker and Century 21, in the #2 & #3 spots.

  These figures are board wide (Enterprise, Daleville, Elba, Geneva, Hartford, Samson, Opp and Ozark).

Thanks to A.C.R.E. and Ms. Sharon Lindley, our A.E., for compiling the figures and the base report.