Sales lagging year-over-year
Single family sales for the first week of February totaled 286, just slightly off the 291 recorded last year. Condo sales are trailing nearly 12% y/y with 97 transactions.
Although sales are lower, so is the amount of inventory buyers have to select from. As of yesterday there were 3129 active single family home listings compared to 3175 on February 7, 2011. New listings are also down -8% from last February.
The difference in condo inventory y/y is more significant. Inventory is down -8.5%, from 1683 to 1539 with new listings for condo-townhomes down -17.7% and condo-apts down -11.9%.
You’ll notice that CREB will be breaking out townhomes and apartments from the once all inclusive “condo” category. It has also been said that the median stat will no longer be reported on starting in March. But you can be assured you’ll continue to get those stats on my daily stat page.