I know, in another week it will be April. But, I thought I would share a few Chatham County housing market stats with figures comparing February 2022 to February 2023.  New Listings in Chatham County  The number of new listings in February 2022 and February 2023 remained the same at 98. This suggests that the supply of new properties on the market has remained steady. Closed Sales in Chatham County The number of closed sales in February 2023 decreased to 76 from 81 in February 2022.  Median Sales Price in Chatham County The median sales price in February 2023 dropped significantly to $472,500 from $597,245 in February 2022. This indicates a shift towards a more affordable housing market, which may be good news for first-time buyers or those on a tighter budget. Average Sales Price in Chatham County The average sales price in February 2023 decreased slightly to $605,928 from $637,170 in February 2022. This indicates that while the market is becoming more affordable, it is still competitive and buyers are still willing to pay a premium for quality properties. Percent of Original List Price Received in Chatham County  The percent of the original list price received decreased to 96.3% in February 2023 from 101.7% in February 2022. This suggests that sellers may need to be more cautious with pricing to attract buyers in the current market. Days on Market Until Sale in Chatham County The average number of days on market until sale increased to 41 days in February 2023 from 24 days in February 2022. This indicates that properties are taking a bit longer to sell, likely due to the decrease in demand and increase in available inventory. In conclusion, the real estate market in February 2023 is showing signs of a shift towards a more affordable market with a decrease in the median and average sales prices. However, this shift also indicates a decline in demand and an increase in available inventory. Sellers may need to be flexible with pricing and patient with the selling process, while buyers may have more options and time to make a decision. To view last month's Chatham County real estate market update.