February property sales were 18, down from 19 sales in February 2010, but up 38.5% from the 13 sales in January. The median sales price was $1,118,500, up 27% from $880,000 in January.
The February inventory of 141 homes for sale are at the lowest point in two years. Lower inventories are the first step to a more balanced market and are a leading indicator of firmer prices. For a complete review of the market please see Carmel Market Action Report – YTD February 2012