Real Estate Activity Blossoms in February

February shows a rise in real estate activity and an overall strong month. Closed and pending sales went up. Accepted offers and new listings went up. As the spring rolls in, so does the increase in our market.

Feb15 Closed Sales

courtesy of RMLSweb.com

Here are some of the highlights from the latest report:

The number of new listings in February was 2,884, 22.5% more than the previous February.

We saw 2,534 pending sales, which was a strong increase over 1,848 from last February and a solid 10.5% increase over January.  In addition, closed sales grew 12.3% from last year and 11.6% from last month.

The total market time dropped from 3.9 months last February and 3.4 months this January to 3.0 this month.

Some key points from these stats are:

This month was the best February for accepted offers since 2007!

Average sales price sits at $328,000, a slight 0.4% dip from January and Median Sales Price at $285,000, $5,000 higher than the previous month.

February’s numbers show a large overall growth over last February with 37.1% more pending sales, 22.5% more new listing and 12.3% more closed sales.

Read the full report here

Thinking about selling your house? Now is a great time to do just that! Contact Urban Pacific Real Estate for more information.

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