Year-Over-Year, Week of February 7th, 2021 Breaks Several Housing Records

According to the latest report from Redfin, the Seattle-based technology-powered real estate brokerage, year-over-year – comparing the second week of February 2020 to February 2021 the median home sale price increased 15% to $318,750. Active listings, that is the number of homes listed for sale at any point during the period, fell -37% from 2020 to a new all-time low. 52% of homes that went under contract had an accepted offer within the first two weeks on the market, well above the 43% rate during the same period a year ago. This is the first time the four-week average has surpassed 50% since at least 2012 (as far back as Redfin’s data for this measure goes). During the week ending February 7th, the rate was 57%. And finally, the average sale-to-list price ratio, which measures how close homes are selling to their asking price increased slightly to 99.3%, 1.6% higher than a year ago.