A market runs on the principle of supply and demand, and the demand this year is slowly increasing. Average sale prices are up and this trend is expected to continue throughout the summer. Right now, everyone acknowledges that inventory is low and demand is high.
Look at these encouraging stats. There were 6,786 single-family homes and condos on the market in February, down 4 percent from January and down 33 percent from February 2012
February’s average sales price stood at $276,596, up 1 percent from January and up 12 percent from the same month in 2012.
Average days on the market logged in at 80 in February, up 2 days from January but down almost a month from February 2012.
The number of homes under contract climbed 14 percent since January, and increased 21 percent in a year.