In February, the median price Increased to $540,000 compared to the $522,016 in January 2022.
The median is 17.4% higher than it was a year ago.
Currently there is 0.8 months worth of inventory. A “normal” or “balanced market” is considered around 2 — 3 months.
The Market is currently favoring sellers.
It is a VERY competitive market right now. Favoring Sellers. There is high demand (a lot of buyers) and low supply (not many homes available for sale). This supply/demand dynamic is creating a lot of competition, multiple offers and increasing prices for the time being. The homes that are priced right, show well and have great marketing are having INCREDIBLE success!
