Fall Real Estate Market Summary

The fall market was a little sluggish compared to the last two years. As seen below, there were 51 single family houses sold in October and November of 2011 with 59 sold in the same time period in 2010 and 69 in 2009. The middle of the market was the strongest with 35 homes sold. 9 of them sold for 1,000,000 to 1,499,999 and 9 sold for 2,000,000 to 2,999,999 with the other price points fairly evenly scattered. The lowest priced home was listed for $399,999 and sold over asking at $401,000 in 38 days, the highest priced home was originally listed in 2008 for $28,000,000 and sold in October of this year for $16,000. This was a bargain for the buyer who had that kind of money.

December has had 2 sales, 4 executed contracts and 5 accepted offers with 7 price changes and 3 new houses listed. This is usually a very slow time in the market and doesn’t traditionally pick up until January. That being said, we do have clients out there looking but value is what they are looking for. With all the unrest in our economy, pricing is more important than ever. This means that research and time are more important than ever.

If you have any questions, don’t hesitate to contact us. Our next newsletter will come at the end of January with a winter market review.

As always, let us know if you would like more information on any property or statistic.

 

Oct. and Nov. 2011 Single Family Sales at a glance:

• The highest priced home: listed: $17,500,000 sold: $16,000,000 days on market: 1279
• The lowest priced home: listed: at $399,000 sold: $401,000 days on market: 38
• The median number of days on market was 124
• The median sale price to list price was 93%
• The median sale price per sq. ft. was $472

 

	beds	baths	Sqft	LP	lp/sqft	Sp	sp/sqft	sp/lp	dom	transactions
2009 medians	4	3	3,122	$1,795,000	$539	$1,695,000	$476	91%	114	69
2010 medians	4	3	3,477	$1,749,000	$509	$1,650,000	$476	93%	102	59
2011 medians	4	3	3,562	$1,695,000	$515	$1,695,000	$472	93%	124	51

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The fall market was a little sluggish compared to the last two years. As seen below, there were 51 single family houses sold in October and November of 2011 with 59 sold in the same time period in 2010 and 69 in 2009. The middle of the market, $1,000,000 to 4,999,999 was the strongest with 35 homes sold. 9 of them sold for 1,000,000 to 1,499,999 and 9 sold for 2,000,000 to 2,999,999 with the other price points fairly evenly scattered. The lowest priced home was listed for $399,999 and sold over asking at $401,000 in 38 days, the highest priced home was originally listed in 2008 for $28,000,000 and sold in October of this year for $16,000. This was a bargain for the buyer who had that kind of money.
December has had 2 sales, 4 executed contracts and 5 accepted offers with 7 price changes and 3 new houses listed. This is usually a very slow time in the market and doesn’t traditionally pick up until January. That being said, we do have clients out there looking but value is what they are looking for. With all the unrest in our economy, pricing is more important than ever. This means that research and time are more important than ever.
If you have any questions, don’t hesitate to contact us. Our next newsletter will come at the end of January with a winter market review.
As always, let us know if you would like more information on any property or statistic.

Oct. and Nov. 2011 Single Family Sales at a glance:
The highest priced home: listed: $17,500,000 sold: $16,000,000 days on market: 1279
The lowest priced home: listed: at $399,000 sold: $401,000 days on market: 38
The median number of days on market was 124
The median sale price to list price was 93%
The median sale price per sq. ft. was $472

bedsbathsSqftLPlp/sqftSpsp/sqftsp/lpdomtransactions
2009 medians433,122$1,795,000$539$1,695,000$47691%11469
2010
medians433,477$1,749,000$509$1,650,000$47693%10259
2011
medians433,562$1,695,000$515$1,695,000$47293%12451
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