Digging Deeper: February 2021 Records

February 2021 was yet another record-breaking month. In this report, the DMAR Market Trends Committee examined the various records broken in this month.

ACTIVE LISTINGS

  • (Residential) 2,024 represents the lowest inventory on record. The previous low was January 2021 of 2,316. 
  • (Detached) 1,120 represents the lowest inventory on record. The previous low was January 2021 of 1,263.

CLOSE PRICE — MEDIAN

  • (Residential) $475,000 represents a tie for the highest amount on record. The previous record was in October 2020.
  • (Detached) $530,000 represents the highest amount on record. The previous record was in October 2020 of $515,000.
  • (Attached) $337,250 represents the highest amount on record. The previous record was October 2020 of $337,000.

CLOSE PRICE — AVERAGE

  • (Residential) $553,774 represents the highest February on record. The previous record was in 2019 of $463,642.
  • (Detached) $632,581 represents the highest amount on record. The previous record was in January 2021 of $627,550.
  • (Attached) $401,552 represents the highest amount on record. The previous record was in January 2021 of $396,677.

DAYS IN MLS — MEDIAN

  • (Residential) 5 days represents a tie for the lowest number on record. The previous low was set in 9 different times.
  • (Detached) 4 days represents the lowest number on record. The previous low was set 6 different times.

DAYS IN MLS — AVERAGE

  • (Residential) 23 days represents the lowest February on record. The previous low was in 2018 of 32 days.
  • (Detached) 19 days represents the lowest February on record. The previous low was in 2018 of 34 days.

CLOSINGS

  • (Residential) 3,641 represents the highest February on record. The previous high was set in 2020 with 3,511 Closings.
  • (Attached) 1,241 represents the highest February on record. The previous high was set in 2018 & 2020 with 1,068 Closings. 

MONTHS OF INVENTORY (MOI)

  • (Residential) 0.56 months represents the lowest February on record. The previous record low was in 2017 with 1.19 months.
  • (Detached) 0.47 months represents the lowest February on record. The previous record was in 2018 with 1.28 months.
  • (Attached)  0.73 months represents the lowest February on record. The previous record was in 2016 with 0.82 months.

PENDING

  • (Attached) 1,520 pending transactions represent the highest February on record. The previous high was in 2017 of 1,457.

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