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February Leaps Ahead of the Rest

Whether an extra day in February paved the way for a record month is debatable as the best previous high for this month was 797 in 2007 and there were only 28 days to reach that level.

New Listings coming on to the market were up in double-digits as well however the stronger conversion of listings to sales kept the overall inventory close to where it was a year ago.

Based on the strong Sales Activity in February and a High Influx of New Listings there is roughly four and one-half month's supply M LS listings available going into March.

Given February's impressive results, year-to-date Sales and dollar volume are up 10 and 14% respectively.

Listings entered on the MLS for the first two months have increased nearly 6%.

Residential-Detached Home Sales

The most active price range in February 2016 for residential-detached sales was $250,000 to $299,999 and $200,000 to $249,999 with 22% and 15% respectively.
    Active Price Range for February 2015  Percentage of Sales
 $250,000 to $299,999  22%
  $200,000 to $249,999 15%

Average days on the market for residential-detached sales was
37 days, compared to 34 days in 2015.

Condominium Sales

The most active price range in November for condominiums was the $150,000 AT 28% and the second busiest price range was between $200,000 to $249,999 at 20%.

Average days on the market for condos was 48 days, the same time it took in February 2015.

 Active Price Range for February 2016 Percentage of Sales
$150,000 to $199,999 28%
$250,000 to $299,999 20%