February 2024 Single Family Market Report
Posted by Stuart Neal on
February 2024 Single Family Market Report
Single family home sales volume stayed higher, and prices lifted again in February.
Sales Prices
Single family homes prices climbed to just under $481,0000 in February 2024 compared to $440,000 in 2023, an increase of 9%. Due to the shortage of inventory (see supply later in this report) we expect prices to climb even further as the spring market emerges.
Sales Volume
The number of single-family homes sold in February 2024 is perhaps an even bigger story. There were 934 homes sold compared to less than 600 homes this time last year. This represents an increase of 63%. Let’s not forget, January sales exceeded last year by 51%. Perhaps this is an emerging trend?
Days on Market
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