New Closed Sales for the month were up 3.6% vs, February 2022, and the median sales price increased by 5.9% to $410,000.
While Active Listings were significantly higher than in February, 2022, they were also down significantly compared to the 5-year average, as 63% of all new listings sold within their first 30 days on the market.
It continues to be a hot "Seller's Market" with .8 of1 month of inventory based on the February rate of sales...a normal market would have 4-6 months worth of inventory.
But for Buyers, it is also a great time to buy, as their buying power remains high due to having significant equity from the sales of their properties.