This past week our listings saw an average of 2.6 showings each, a drop from the prior few weeks. In a volatile market, the weather of all things seems to be having the biggest impact on showing traffic. At the end of February, the snow melted, the sun came out and so did the buyers. The past seven days have been filled with rain and buyers stayed home. The forecast for this weekend is sunny & warm so hopefully that means buyers will be out looking again.
I’ll be publishing my monthly E-Newsletter this week and along with it comes the Mecklenburg County real estate stats for February. The numbers are still looking negative when compared to last year. However, they are holding steady over recent months. The February data represents a snapshot of last months sales and the last of the 2009 winter months. It is my hope and prediction that next months numbers will start to look better due to the spring cycle.
Here’s a snap shot of the numbers, comparing February 2009 to the same period last year and also to the prior month:
- The number of home sales is down 30% from last year, but only down 2% from the previous month.
- The average sales price is down 17% from last year, but up 6% from the previous month.
- Average time on market is up 21% from last year, but down 3% from the previous month.
- Pending home sales are down 31% from last year, but up 2% from the previous month.
- Supply is up 41% from last year and up 7% from the previous month.
- Mortgage rates are down slightly from last year and up slightly less from the previous month.