What Were The Actual Numbers?
The total number of sales for the month of February was 2,217, which was down 18.7% from February 2021, the last complete month available, as all numbers below are.
We start with single-family resale which numbered 1,340, off 19.7%, with a median price of $1,067,000, a torrid 28% increases year over year.
Condos had 662 sales, down 17.8% in volume but hiked 21% in price to $720,000.
Finally new homes came in with just 215 sales, down 13.7%, and median price rose just 2.6% to $949,000.
The average monthly payment continues to reflect both higher rates and diminishing buying power as it’s increase was steep, from $3,450 to $4,263.
Please call us at Premier Funding Network with any questions you may have, we’re here to help. 714-283-9900.