ATHENS, Ohio- The month of February brought 49 closed sales and less new listings to the market, according to the latest monthly housing report provided by Uptown Realty Group.
In comparison to last February’s number of 52 homes sold in the month, there was a 6% drop.
In February, the average sales price was down 9% year-over-year to $194,378, while the median sales price was steady at $185,000.
As of the month end, inventory in the ACBOR listing sits at 120 homes which is down 21% from February of 2022.
The most startling news is the 47% decline in New Listings coming to market in February!
While there are significantly less new listings in February 2023 compared to February 2022, we are seeing an increase of 12% in the average list price for new listings. Additionally, when we look at the closed sales from this time period, Sellers are receiving an average of 96% of the List price.
Demand for new homes remains high across the ACBOR region, while inventory remains very low.
Check out the full data report by downloading our February 2023 Housing Report.