Our neighborhood currently has 2 active homes on the market as of March 14th. The average listing price per finished square foot is $142/psf and current active days on the market is averaging 7. The townhome that is currently active will be going under contract on 3/15 (per the MLS) so really, we are back to extremely low inventory!
We are seeing the really nice homes sell even higher than predicted. There are bidding wars that bring the purchase price over the listing price and sellers are usually able to negotiate really good terms as buyers have learned they need to be flexible to win deals. The way the homes are marketed, staged, and shown are extremely important to help get the best possible price.
Ralston Estates had 5 homes sell in February compared to 4 homes in January. The average days on market was 14 with the average price per finished square feet at $166/psf.
The average days to contract dropped in February most likely due to the market picking up.