Once again, the past week showed very stable sales numbers.  104 properties were sold, compared to 106 and 104 in the previous two weeks.  The number of new listings is just very slightly less, 194, compared with 219 and 217 in the previous two weeks.  What is different from last week, is that roughly half of the properties sold were over $500,000, with 23 sales between $1 mil and $3 mil, and two properties sold over $3 million.

The official month end statistics will be out next week, but we should expect to see that the number of new listings (compared with the same month last year) are down approximately 15%.  Although the official statistics will compare February 2009 to February 2008 and will show a decline in the number of sales, expect to see that the number of sales in February compared to last month will be approximately double.  Given that the market has changed so significantly in the past 7 months,  and that buyers are struggling to understand today's reality from perception, it is more meaningful to compare month over month, and note that we are seeing a bit more momentum in today's market.