As I reported the January numbers in one of my February blog postings, 2013 is off to the races and the news continued to be good as reported by the Spokane Association of REALTORS®:
February residential closed sales (residential site built on less than one acre and condos) increased by 8.1% over February last year. The average and median sales prices are up 7.8% and 6.4% respectively. Average sales price this February was $167,031 compared to $155,008 for February 2012. The median sales price for February was $153,000 compared to $143,750 for February 2012. Through two months of this year sales are up 13.2%, 542 closed sales vs. 479 closed sales, an increase of 63 sales. The average price is up 10%, $171,561 through February this year compared to $156,094 through February last year. The median price is up 9.6%, $158,750 compared to $144,900. Inventory compared to last month is up 5.6% however compared to last year inventory is down 8.6%. Inventory as of this report stood at 2,171 homes on the market compared to 2,376 last year at this time. New construction closed sales of single family site built homes on less than one acre are up 97.9% compared to last Year.
It is good to continue to see the positive market indicators of lowering inventory, increasing sales and increasing prices. I believe this trend will continue throughout the year.
Don’t forget to check out my website at SabrinaSellsSpokane.com and please let me know if I can ever help you with your real estate needs.
Have a great week everyone!