Claremont in February continued to see a low inventory home market that continued the trend of fewer sales, but for higher prices. Supply and demand laws were in play, with pent up demand, and low supply kept prices up.

There were less $1,000,000 plus sales in February this year, thus average prices are more in line with the norm, as opposed to January when several multi-million dollar homes drove averages higher.

Homes that have been fully updated have been hard to come by. So when they come to market, they are sold quickly. As tax season comes to a close, and people know what their tax burden will be, we should begin to see more activity in the market. This is typical of Claremont’s real estate cycle.