February 2024 | Market Update
Market Update
Market Stats
March is here and now it's time to reflect on the market close of February 2024.
Some key things to note are a slight drop in median sales price from last year with 3.4% more listings. Days on market is still very low at 7 days, due to delayed negotiations and low inventory. Below you can see more detail by following the charts.
Active Inventory
I just find this chart to be so interesting. This one alone describes most of the market conditions. You can see since 2020 we've been in a completely different market in terms of active inventory.
Median Sales Price
Here you can see our seasonal cycles and the rise of the median sales price.
Conclusion
With the spring season at our door and the seasonal market starting it's a great time to get back into the market whether you're a buyer or seller. Sellers have the opportunity to still take advantage of this sellers market and buyers should be ready for more inventory to come online. Feel free to reach out with any questions and I look forward to hearing from you!
