February Market Stats are In

Single Family (Res + Cond)
Inventory was 19,349* listings at the end of Feb 10
Compared with prior month, available inventory is up 9%
Down 4% versus Feb 09

It doesn’t look like our shortage of inventory problem is getting better.


*Includes Active and Pending listings for historical trending purposes. See Market Intel reports for Pending count.
Under contract listings were at 4,414 units
Up 20% compared with prior month
Up 6% compared with same month year ago

This is a good sign for sellers (especially under $450). Not much on the market, and what is on the market is going UC quickly.


Sales volume (units) totaled 2,436
Up 4% compared to last month
Down 2% compared to Feb 09

You’ll recall that sales volume in Jan and Feb 2009 was a complete disaster relative to 2008. We sold even fewer homes in 2010. I think this is more a supply problem (2010) than a demand problem (2009).


Average sales price was $247,471, up versus prior month
14% increase from Feb 09, $218,010 avg price

Since we don’t have any low end homes to sell, we’re selling, proportionally, more mid-end homes. Thus the price increase.


Residential (DSF only, not CND)
Available inventory was at 14,447* listings, up 9% compared to prior month
This represents a 5% decrease from same month year ago
*Includes Active and Pending listings for historical trending purposes. See Market Intel reports for Pending count.
Under contract listings increased 20% to 3,459 from prior month, and were up 3% compared to Feb 09
Sales were up 4% from month ago to 1,913 units sold
Compared with Feb 09, units sold decreased 5%
Average sales price was $269,688
Up 4% compared with Jan 10, $260,530 avg price
Up 14% versus Feb 09, $236,920 avg price
Median sales price was $220,750, up 5% versus prior month, and up 15% from Feb 09


Condo

Inventory at close of Feb 10 was at 4,902* units
Up 9% compared to prior month and up 1% compared to Feb 09
*Includes Active and Pending listings for historical trending purposes. See Market Intel reports for Pending count.
There was a 18% increase in under contract units compared with Jan 10
Under contract listings were up 15% versus same month year ago
523 units sold in Feb 10, down 2% compared to prior month and down 10% from Feb 09
Average sales price was $166,206, up 5% versus Jan 10 and up 20% compared to Feb 09
Median price was $132,500, up 2% compared to prior month
Median price increased 13% from $117,725 Feb 09