Eyebrow raising numbers this month as the number of pending and sold sales have both gone up significantly: From last month, pending is up 23.4% and sold up 40.6%! As a result, our inventory took another dive 28.8% down to 3.2 months. The last time we had this or lower inventory was June 2006 where it was 2.6 months.

On prices, we went up 6% over the month before on the average sales price and up 3.3% for the median sales price. Usually people try to break these down year to year to show the significances in difference, not this month.

Predictions from last month I was right on…
o Low inventory will drive up the average and median sales prices again for the year. The S&P Case-Shiller report will also reflect this.
o Inventory will continue to go down as sales numbers are up. On March 7, 2013…