The average price of homes for sale was $872,569, which was down from $935,371 in December. Likewise the median price of homes for sale - the number at which half of the homes listed for sale were for more and half were for less - decreased 3.07% to $606,444.
"The market is getting tight. Those people sitting on the fence should buy now," said Donald Ross, who released the study. "Interest rates will rise. Don't be left out in the cold!"
The prices varied according to the size of the homes
- 2 bedroom - $467,464 - an increase of 0.06% from December
- 3 bedroom - $642,838 - an increase of 1.47% from December
- 4 bedroom - $1,030,436 - a decrease of 1.42% from December
- 5 bedroom - $1,879,075 - a decrease of 2.67% from December
The average home for sale has 2.87 bedrooms and 2.94 bathrooms.
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