Orangevale Real Estate
February 2021 is a Seller’s market!
The number of for sale listings was down 48.4% from one year earlier and up 6.7% from the previous month. The number of sold listings increased 34.8% year over year and increased 24% month over month. The number of under contract listings was up 42.9% compared to previous month and up 21.2% compared to previous year. The Months of Inventory based on Closed Sales is 0.5, down 59.4% from the previous year.
The Average Sold Price per Square Footage was up 5.8% compared to previous month and up 28.2% compared to last year. The Median Sold Price increased by 6.3% from last month. The Average Sold Price also increased by 8.3% from last month. Based on the 6 month trend, the Average Sold Price trend is “Appreciating” and the Median Sold Price trend is “Neutral”.
The Average Days on Market showed a neutral trend, a decrease of 54.5% compared to previous year. The ratio of Sold Price vs. Original List Price is 101%, an increase of 2% compared to previous year..