Market analysis - february 2020

February Residential Highlights New listings, at 2,759, increased 12.9% from February 2019 (2,444) and rose 0.2% from January 2020 (2,754). Pending sales (2,598) increased 17.7% over the 2,208 offers accepted in February 2019, and rose 14.4% from the 2,271 offers accepted last month in January 2020. Closed sales (1,897) rose 9.9% from the 1,726 closings recorded last year in February 2019 and increased 14.1% compared with the 1,663 closings recorded last month in January 2020. 

Inventory and Total Market Time Inventory decreased slightly to 1.9 months this February. Total market time decreased to 68 days. 

Year to Date Summary Comparing the first two months of 2020 to the same period in 2019, new listings (5,544) have held steady 0.6%, pending sales (4,792) increased 14.2%, and closed sales (3,616) have increased 12.1%. 

Average and Median Sale Prices Comparing 2020 to 2019 through February, the average sale price has increased 5.0% from $438,200 to $460,200. In the same comparison, the median sale price has increased 3.7% from $393,000 to $407,500. 

                                                                                                                            Information ©RMLS 2020

February Residential Highlights There were 780 new listings in February 2020, a 6.6% increase from February 2019 (732) and 6.0% more than last month in January 2020 (736). Pending sales (718) increased 13.2% from February 2019 (634) and rose 6.8% from last month January 2020 when 672 offers were accepted. Closed sales, at 514, increased 0.4% from February 2019 (512) and increased 4.7% from the 491 closings recorded last month in January 2020. 

Inventory and Total Market Time Total market time decreased to 67 days in February. Inventory decreased to 2.1 months. 

Year to Date Summary Comparing the first two months of 2020 to the same period in 2019, new listings (1,529) decreased 4.3%, pending sales (1,354) increased 8.7%, and closed sales (1,026) have increased 2.4%. 

Average and Median Sale Prices Comparing 2020 to 2019 through February, the average sale price has increased 4.0% from $400,500 to $416,700. In the same comparison, the median sale price has increased 8.2% from $355,900 to $385,000.   

                                                                                                                            Information ©RMLS 2020