The real estate market in February 2025 has shown a mix of stability and challenges. Sales activity saw a decline of 20.1% compared to February 2024, with 353 properties sold. Despite this, the dollar volume of sales reached $249,279,351, reflecting an 18.2% decrease from the previous year. New listings were down by 8.0%, totaling 743, while active listings increased by 19.0% to 1,558. The sales to new listings ratio stood at 47.5, indicating a balanced market.
The average price of single family detached homes in February 2025 was $706,174, a modest increase of 2.4% from February 2024. The median price, however, saw a slight decrease of 1.9%, settling at $645,000. The market's inventory levels have improved, with months of inventory rising to 4.4, providing more options for buyers.
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