For March 2011 (sales figures through Feb. 28, 2011)

Single Family Homes

Average Sales Price (Homes) for Feb. 2011: $193,380

This is down 15.4% from the same month 2010.

Average Sales Price for 2010: $226,504

Average Sales Price for last 6 mos.: $217,735

This is within 1.0% of 2009 avg. sales price.

Unit sales are the same over same month 2010.

Condos

Average Sales Price (Condos) for Feb. 2011: $134,009

This is down 23% from the same month 2010.

Average Sales Price for 2010: $153,211

Average Sales Price for last 6 mos.: $147,296

This is down 25.0% from 2009.

Unit sales are up 17.0% over same month 2010.

Notes:

Homes: Home sales are on par with last year in terms of average price and unit sales, and we expect this for the next three months (last year home sales were boosted by the tax stimulus in a weak economy). This year the economy is stronger...after April or May we should see residential prices continuing to show appreciation when compared with the non-stimulus sales of 2010.

A unique twist this month: January price points are typically the lowest of the year. But this year January was unusually strong while February was unusually weak. Unit sales, however, remain strong.

Condos: Condos are still down. As in residential, however, January was unusually strong, and February was unusually weak. Coupled with a unusually strong February 2010 to compare with, the condo market this month looks weaker than it probably actually is.

One thing is clear however, the bargain hunters are still raiding the market below $140,000...that's where the majority of sales are still even though inventory is getting scarce in those price points. If you are a buyer looking for a deal, it's still a buyers market above $200,000 and especially above $500,000.