Newest local housing report indicates favorable numbers in listings, sales

February was a short month, but it packed a real punch when it came to bitterly cold weather. That, according to last month's housing statistics, is what is attributed to listing and selling activity that was slightly lower than the same month in 2014. 

To clarify, single-family listings are down only 3%, while sales decreased by 12.9%. In comparison to the first two months of last year, there's not much difference overall, with only a 5% gap as last January was on par with February 2015 with regards to sales, listings and the weather. 

With sunnier skies rebounding in February, so did sales prices. Listing prices were up at this February from last — a 23.4% jump — which mirrors the sales price percentage increase. The average sale price this year is $274,182, up from $222,255.

There's even better news: market growth is expected to increase both at the local and national level, thanks to consumer confidence and interest rates remaining low.

Chris Glahn is a licensed Realtor in the state of Michigan with RE/MAX Platinum Ann Arbor. He can be reached at 734-730-3403.