Plummeting inventory caused single-family closed sales to dip year-over-year in February, as prices continued to rise. This is the 12th straight month of year-over-year increases in median price. Condominium sales also fell compared to last year, while prices saw another increase.
Read more in the full February 2017 Closed Sales Release.
Highlights from the release:
- February single-family home sales went down -11.0% over last year (2,519 sales in 2017 from 2,830 sales in February 2016)
- February single-family median prices went up 6.8% year-over-year (to $330,000 in 2017 from $309,000 in February 2016)
- February condo sales went down -8.8% and median prices went up 7.9% (to $313,000)
- Inventory in February went down -34.9% to 11,409 and condominiums available down -29.3% to 3,275
- SF listings added to the market in February went down -12.9% over last year. (4,369 from 5,018 in 2016)
- Condo listings added to the market went down -10.6% over last year. (1,715 from 1,919 in 2016)