Last month, we discussed the market having slowed slightly. Has the trend continued into February? As always, the answer isn't black and white.
If you look at the number of sales in February 2019 and February 2018, it may be easy to conclude that the market is not doing as well. However, the number sales in February are a result of the prior months activity which we have already concluded to be lack luster.
The median sales price is significantly higher than February of last year. This is likely still mostly due to the lack of inventory. The days on the market has gone up a little and the number of homes for sale continues to be low.
However, we had more contracts in February of 2019 than February of 2018. This is a good sign that things are starting to pick up again. We will have to see how March does in comparison to 2018.