Clark County’s February real estate market numbers are up over January! Sure, they’re down from 2008, but let’s focus on the fact, up is up!!!
We saw an 11.7% increase in pending sales and 10.3% increase in closed sales. Meanwhile, new listing dropped 15.1%. That means that less houses went on the market, which means that at the rate homes are selling our inventory will last approximately 18.6 months, down from 21 months in January.
The average housing sale price and median sale price went up in February over January. Average sale price went up 7% and median sale price up 6.8!!! Again this increase is lower than last year at this time, but it still reflects a positive move in the real estate market around here. For buyers, interest rates are incredibly low and there’s an $8000 tax credit available for first time buyers.
Sellers should note that the average market time to sell a house is 165 days compared to 104 day last year at this time. Remember, it’s a supply and demand thing. The more houses on the market, the longer it takes a house to sell. Pricing ahead of the market is everything. If you’re selling, make sure your house is priced to sell.
Stats provided by RMLS for SW Washington.