The overall number of homes for sale continues to decline -6.9%% compared to February 2018. And -5.9% from January 2019. February inventory homes is lower than it was in February 2017 and 2018. Good news is the number of new listings posted during February 2019 increased by +10% from January.
Comparing the average sale price for single-family homes through February 2018 ($197,182) to 2019 ($214,340) our area experienced an increase of +8%. The median sale price for 2018 was $159,900 versus $174,000 for 2019. A +8% increase. The median price is rising at a slightly at the same pace as the average sale price- one way to gauge affordability.
February 2019 single family home sales were down -2.6% compared to February 2018. On the upside, sales were up by +17.7% over January 2019. Apparently cold weather cabin fever forced home buyers into the real estate market.
The average sale price for single-family home sales in all the counties continues to increase: