General. Well, the RMLS™ numbers are in for March 2014. We’re moving in the right direction by most accounts. For the full report, go to this link. Here are the data points:
- New listings: There were 3,090; 31.3% over February’s 2,354. This was a 2.9% increase over March 2013, when there were 3,002 new listings.
- Pending sales: For March they were at 2,534; this was a whopping 37% increase of February’s 1,848. But it was down 3.6% from last March 2013, which numbered 2,628 pendings.
- Closings: They were up 26.6% (1,857) from February (1,467), but again, down 4.0% compared to the March 13, 2013 (1,935)
- Active listings: In March there were 5,811.
- Total market time: They dropped to 85 days in March.[1]
- Inventory: It continues to fall – for March it was at 3 .1.[2]
First Quarter 2014 (Jan – March). It was good, but according to the RMLS™, “not as robust as 2013.”
- New Listings: There were 8,113 for the period. This was a 1.9% increase over the 7,963 new listings posted in 1Q 2013.
- Pending Sales: They were down 3.2%, at 6,258 for 1Q 2013, which were 6,466.
- Closings: At 4,892, this was an increase of 2.2%, 0ver the 4,789 for 1Q 2013.
Average and Median Sale Prices.
- 1Q 2014 average price: At $322,700, up 11.2% from 1Q 2013 which was $290,300.
- 1Q 2014 median price: At $271,600, up 9.9% from 1Q 2013, which was $247,100.
[1] Per RMLS™: “Total Market Time is the number of days from when a property is listed to when an offer is accepted on that same property. If a property is re-listed within 31 days, Total Market Time continues to accrue; however, it does not include the time that it was off the market.”
[2] Per RMLS™: “Inventory in Months is calculated by dividing the Active Residential Listings at the end of the month in question by the number of closed sales for that month. This includes proposed and under construction homes.”
