February 2020 market over view
New Listings Feb. 2019 - 115 listings vs 81 in Feb. 2020 a drop of 29.6%
Pending sales Feb. 2019 - 56 pending vs 55 in Feb. 2020 a drop of 1.8%
Closed sales Feb. 2019 - 42 closed sales vs 57 in Feb. 2020 an increase of 35.7%
Avg. sale price in Feb. 2019 - $122,888 vs $157,561 in Feb. 2020 an increase of 28.2%
We are still short on inventory of certain types of properties. This is one of the reasons the Avg sale price is increasing. If you're thinking about selling your home now is the time to capitalize on the higher sales price. If you are a buyer now is the time to start looking because the interest rates are at all time lows.
The above numbers are from the Itasca Board of Realtors.