The median home price was $519,521 in February, which was an increase of 10.4 percent from January and a 3.3 percent increase from February of last year.
A seasonally adjusted 45,855 homes were sold in February, which was up 5.2 percent from January and down 3.1 percent from February of the previous year. Currently, 2017 is outpacing 2016 by approximately 1,003 home sales.
The sales-to-new-listings ratio increased to 69.0 percent in February, while a seasonally adjusted 66,457 new listings came on the market. This ratio could indicate a seller?s market in the majority of regions.
The opinions expressed in This Month in Real Estate are intended to supplement opinions on real estate expressed by local and national media, local real estate agents and other expert sources. You should not treat any opinion expressed on This Month in Real Estate as a specific inducement to make a particular investment or follow a particular strategy, but only as an expression of opinion. Keller Williams Realty, Inc., does not guarantee and is not responsible for the accuracy or completeness of information, and provides said information without warranties of any kind. All information presented herein is intended and should be used for educational purposes only. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. All investments involve some degree of risk. Keller Williams Realty, Inc., will not be liable for any loss or damage caused by your reliance on information contained in This Month in Real Estate.