February 2017 Housing Statistics
Posted by Ken Richter on
The detached sector of housing is what really drove the market this year. CREB® reports, “February sales totaled 1,342 units, which is still 19 per cent below long-term averages, but an improvement over the past two years.” One really wonderful thing that happened is that the average time a property is on the market dropped to 2.4 months, which has helped ease downward pressure on pricing. This means sellers are selling their homes faster and for better prices. The benchmark price for a property was $501,900 in February.
CREB® president David P. Brown notes, “there seems to be a new sense of optimism these days. Some sellers are feeling upbeat about the changing landscape and the improved chances of selling their home. Other people are looking at the…
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