What’s Happening in the Market? March 2020 stats

As expected we have seen a dramatic increase in Sold prices for February 2020 numbers over the same time last year.  This is primarily due to the 4^th Quarter correction in 2018 of homes that closed in February 2019.   Market times are falling and Multiple offers are heating up as February 2020 saw more than a 1/3 of the homes sell for over asking price by an average of 5%.  Inventory has now dipped to 0.8 Months and even though some Buyers & Sellers have put their Real Estate decisions on hold due to current uncertainties (Virus/Stock Market/Economy) we are still seeing strong activity. This might well be the case for some time to come as interest rates are at an all-time low (3.47%), prices continue to rise and jobs keep flowing into area at a steady pace