During the month of February, the housing market experienced a noticeable revival, characterized by a surge in property values across all asset classes. Notably, the average sales price for all property types increased by 5.4% when compared with January's data, culminating in a February average sales price of $1,095,617.
The Positive February data bodes well for the rest of 2023 and beyond, indicating the return of stability and significant demand that will propel the market higher as consumer confidence continues to rise. As we move into the spring, more inventory will be welcomed by eager buyers who have been stymied by an ultra-low inventory environment.
Click here for a breakdown of the numbers.