In February, the number of single family home sales were up 6% from January, and the median sales price increased 4½% to $265,000.
The number of homes available for purchase in February decreased 11%, to 709, down from 797 in January. While the available inventory is exceptionally low, typically inventory levels begin to rise as we get closer to spring. Also, we anticipate that the new home builders are poised to start construction on more new homes as demand is steady and interest rates remain low.
February’s average days on market was 109, a slight decrease from December and January. The average days on market has been relatively stable since august of last year.
Knowing what to do when buying or selling a home can be a challenge. Having a market expert on your side is an invaluable asset. As your Dickson Realty agent, I can help provide you with up to the minute information about what is selling in your neighborhood. That can give you a definite edge.