03/10/2022
February Market Update 📈
â–ªFebruary sales were held back from a lack of listing supply. This resulted in a decrease of 22% from February 2021, however, sales of 963 are up 8% over the 5-year average.
â–ªPrice increases resulted in 57% of all single-family home sales in February selling for above list price. The average sale price is the highest it has ever been at $429,000 and has risen rapidly, nearly $50,000 from the 2021 year-end average sales price of $380,000 and almost $70,000 from the February 2021 average sales price of $360,000.
â–ªOne exception to the sales decline experienced so far in 2022 is condominiums. Despite having much fewer listings than previous years, sales are still managing to keep up with the brisk pace set in early 2021.
