HAR Report: Days on Market, or the actual time it took to sell a home, lowered from 64 to 57 days. Months of inventory increased to a 3.4-months supply compared to 2.5 months a year earlier. The current national supply stands at 3.0 months, as reported by NAR.
Broken out by housing segment, February sales performed as follows:
$1 - $99,999: increased 6.9 percent
$100,000 - $149,999: increased 8.9 percent
$150,000 - $249,999: decreased 3.8 percent
$250,000 - $499,999: increased 8.9 percent
$500,000 - $999,999: increased 18.3 percent
$1M and above: increased 48.0 percent
HAR also breaks out sales figures for existing single-family homes. Existing home sales totaled 4,139 in February, up 6.5 percent from the same month last year. The average price rose 6.1 percent to $405,334 and the median sales price rose 6.7 percent to $327,000.