HAR Report: Days on Market, or the actual time it took to sell a home, increased from 42 to 63 days. Months supply registered 2.6 months compared to 1.2 months a year earlier. The current national supply stands at 2.9 months, as reported by NAR.
Broken out by housing segment, February sales performed as follows:
$1 - $99,999: decreased 2.2 percent
$100,000 - $149,999: decreased 27.0 percent
$150,000 - $249,999: decreased 17.2 percent
$250,000 - $499,999: decreased 23.4 percent
$500,000 - $999,999: decreased 23.3 percent
$1M and above: decreased 33.3 percent
HAR also breaks out sales figures for existing single-family homes. Existing home sales totaled 3,939 in February, down 31.0 percent from the same month last year. The average price fell 2.1 percent to $382,366 and the median sales price declined 3.9 percent to $306,415.
For HAR’s Monthly Activity Snapshot (MAS) of the February 2023 trends, please click HERE to access a downloadable PDF file.