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February Market Update

Sales remain strong in the favored price ranges.  There were 3,051 sales in the short month of February, as buyers continue to take advantage of attractive pricing.  The average sales price was $150,577, showing an increase in price for the first time in, literally, years.  The median list price was $119,950, with half our sales being below that price and the other half above.  Statistics on financing are quite interesting.  During the month of February, over half the sales were cash – 1,420!  42 houses sold at auction, 611 were purchased with conventional loans (with at least a 20 percent down payment), 746 buyers used FHA loans (with a minimum 3.5 percent down payment), 2 were lease options, sellers carried the loan in 8 sales, 2 were sold using private funding, and 144 veterans used their VA benefits. 

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