February’s average sold price is typically lower than other months. In fact, if you look for the lowest average price per square foot in recent years, February is the lowest 3 out of the last 4 years since 2023. Why? Not because February is a bad month to sell. It’s a great month to buy! Owners who are motivated and price-realistic put their property on the market in January and sell it. They don’t list high and work their way down. They price it to sell and they get it sold. That shows up in the data year after year, especially in years where there’s a high number of expired and withdrawn listings. Many of the sold properties in February are listings that failed to sell in 2025 and were “re-listings”. 

Expired and withdrawn properties continue to have a significant impact on our market, especially for condos and townhomes. 751 single family homes sold in February. In the same timeframe, 376 listings failed to sell and withdrew or expired off the market. That’s a 33% failure rate! For condos and townhomes, it’s even more pronounced. 368 condos/townhomes sold in February and 278 failed to sell. That means compared to sold properties, there’s a 43% failure rate for condo/townhome listings! What does this mean? For sellers, it means it’s never been more important to price your home correctly and have it actively marketed with professional photos and videos. You can test a price, but if you’re not getting showings and offers, you’ll need to make a price update. For buyers, it means we can make offers less than asking for certain properties, but it also means sellers are clearly willing to not sell at all versus accepting the market reality. We’re great negotiators but we can’t negotiate against unrealistic stubbornness. Sellers sitting on lots of equity and super low interest rates are not motivated to sell at a lower price. 

Months supply often increases in February as folks being listing their homes for the spring market. The total supply of properties increased and I like to split them again into condos/townhomes versus single family homes. For condos and townhomes, there’s 7.6 months of supply which is lower than last April/May when it was 8.2 months. For single family, we are holding steady at just below 4 months of supply. (This was 4.5 months last summer.) Months supply is a great statistic that calculates both supply and demand by taking last months sold totals (demand) and divides it into the total number of properties for sale (supply). The more months supply, less bargaining power sellers have and the more supply, the more negotiating power buyers have in the market. 

Closing thoughts: We have buyers and sellers who are exhausted waiting for something huge to change so they can achieve their goal of buying or selling. There’s a pending change in the leadership of the Federal Reserve. We have a military conflict with Iran. There’s a lot of uncertainty and the big picture can be murky. If you have a goal of buying or selling real estate, we’d love an opportunity to talk through your specific situation and see how we can best help. With solid advice and good data, we are confident we can help you make a great decision for you and your family!