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There will still be a few stragglers, but the October numbers are shaping up as expected – fewer sales but healthy pricing.  The frenzy was zooming by the end of 2012, but it was settling down by October 2013 after rates popped that June.

Here are the last 11 NSDCC Octobers, for comparison:

October
# of Sales
Median SP
Avg $/sf
Avg DOM
# over $3M
2003
306
$778,500
$369/sf
57
11
2004
229
$895,000
$453/sf
63
12
2005
218
$1,065,000
$468/sf
60
16
2006
186
$888,762
$424/sf
83
11
2007
145
$920,000
$483/sf
75
13
2008
195
$800,000
$406/sf
74
12
2009
211
$805,000
$407/sf
86
7
2010
188
$854,750
$364/sf
79
6
2011
186
$835,000
$379/sf
85
11
2012
297
$825,000
$388/sf
77
10
2013
266
$957,500
$495/sf
57
16
2014
235
$982,655
$468/sf
60
12

Look how similar this year is to 2005. After two years of spectacular run-up in both cases, we’re at the identical $/sf.

With rates bobbing around 4%, our softer landing should continue.

rates-2

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