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In spite of the feeling that the frenzy has died down, sales of detached homes around NSDCC over the last two months have been remarkable.

Inventory, rates, and prices are higher, yet the September and October sales are hanging close to last year’s totals – which were red hot:

NSDCC
Total Listings Jan-Oct
Sept Sales
Oct Sales
Oct Avg $/sf
2009
4,520
229
211
$407/sf
2010
4,742
220
188
$364/sf
2011
4,677
228
186
$379/sf
2012
3,949
289
297
$388/sf
2013
4,267
260
253
$462/sf
YoY % chg
+8%
-10%
-15%
+19%

You might be able to say that the rate increase in late June probably caused a few buyers to grab a house before rates got any worse, and those closings are still trickling through.

The actual October average cost-per-sf was $501/sf, which sounded too good to be true. I took out the three sales over $6,000,000, and the other 250 sales averaged $462/sf.

NSDCC 2013

March – $404/sf

April – $420/sf

May – $416/sf

June – $453/sf

July – $418/sf

August – $437/sf

September – $469/sf

October – $462/sf

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