The monthly February PAR stats are now available.
HIGHLIGHTS
- February sales are up from last month but down from last year with 595 units sold. Last month 470 units sold. Number of sales Y-O-Y was down 6.7%.
- Cash buyers represent 25.2% of all residential sales in our area. This is down from 31.5% last Month.
- February average "day on market" is up January at 57 days to: 62 Days.
- Average sold price is $369,000, this is down from the prior month but up 2.0% since February 2023 Y-O-Y, $361,767.
- February inventory is up month over month to: 2652 units, up from February 2023, with 1783 units. Y-O-Y increase in inventory of 48.7%
- Months inventory is 4.5 months, down from January 5.6 months, and up from February 2023 with 2.8 months inventory.
- Average List to sold price difference in February was -2.5% a change from -3.5 % in January.
- The inventory of homes remains low with 4.5 months inventory, this level is considered a neutral market neither favoring buyers or sellers. When Months Inventory is less than 4.0 months it is considered a seller’s market.6.0 months or more is a buyer's market. Between 4 and 6 months inventory is a neutral market.