In our Southeast market, year to date sales are running even with last month and prices are up about 6% compared to last year. New listing inventory is about even with last month.
Showing activity is up across Michigan markets, up 36% from last year. With continued strong demand, inventory continues to be the fuel needed to drive sales. Inventory levels are rising slower than expected.
Expect stronger sales and prices through the first half as new listings arrive. 50% of new pending sales were under contract within 10 days of being listed.
53% of Feb Closed Sales were at or over asking price:
47% under
35% over
18% at list price
The percentage will be over 60% by May.
