The total number of houses sold increased 6.2% versus February of 2017. Interestingly, when compared to February of 2011 (7 years ago), the increase is 73%!
The median (middle) sales price was right at $200,000, an increase of 13.8% versus $175,000 last year. The average sales price was $222,000, an increase of 3.3% versus last year’s $215,000.
The average days on market (days until a house goes under contract) was 70 days in February, or about 2.5 months. This is a 11.4% decline versus last year’s 79 days.
The total inventory of houses (number of houses on the market) decreased by a sharp 11.7% versus February 2017. Declining inventories has been a continuing trend for some time now.
Based on the current pace of sales, there is a 5.1 month supply of houses on the market, which is a 16.8% decline versus last year’s 6.1 months. Once again, the market is currently “tight” on inventory!
Do you have a house you need to sell quickly? Whether it needs repairs are not, we are interested in buying it. We can close quickly for cash, and we buy “as-is” so no repairs required on your part.
Call us today at 205-390-1050 or fill out our simple form at www.WeBuyBham.com!