Better late than never - the February Home Sales Report numbers from KAARMLS are up. Let's start with the good news first:
Average condo sales price is up.
Feb '07 - $164,300
Feb '08 - $169,500
Average sales price for homes with 4 or more bedrooms is up.
Feb '07 - $293,700
Feb '08 - $303,000
Now for the not so good news -
Average sales price for 3 BR homes is down.
Feb '07 - $182,700
Feb '08 - $155,000
Median sales price for 3 BR homes is down.
Feb '07 - $141,600
Feb '08 - $145,000
Median sales price for homes with 4 or more bedrooms is down.
Feb '07 - $249,300
Feb '08 - $240,000
Feb '07 - $249,300
Feb '08 - $240,000
Total number of single family unit sales is down.
Feb '07 - 1,160
Feb '08 - 902
Days on market is up.
Feb '07 - 94
Feb '08 - 100
And finally, here's the "sellers are either in total denial or are eternal optimists" news:
Average listing price for new listings is up.
Feb '07 - $246,100
Feb '08 - $264,600
So, here's my not so scientific analysis:
1. The condo market is still chugging right along.
2. Residential sales are still soft*.
3. Sellers think it's still 2005.
*Please keep in mind that lower average sales price and lower median sales price do not necessarily mean that your personal home has depreciated.
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