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june

Here’s a comparison of the last four Junes to those at the previous peak.  Last time, the number of sales started declining, indicating trouble ahead.

In 2015 it appears that pricing has tapered, but sales are still looking strong – late reporters could make last month’s sales total the best of the foursome:

Year
# of Sales
Avg $/sf
Median SP
Avg DOM
Avg SF
2004
376
$455/sf
$975,000
37
2,966sf
2005
304
$483/sf
$1,049,500
53
3,004sf
2006
264
$492/sf
$1,026,600
64
2,968sf
2007
267
$501/sf
$1,050,000
57
3,098sf
Year
# of Sales
Avg $/sf
Median SP
Avg DOM
Avg SF
2012
339
$368/sf
$867,500
76
3,158sf
2013
333
$453/sf
$1,025,000
46
3,008sf
2014
322
$481/sf
$1,077,850
44
3,036sf
2015
324
$484/sf
$1,097,500
38
2,963sf

Sales are just the indicator – higher mortgage rates will be one of the main causes of market slowing when it happens. You hear it on the street already – buyers are preparing for a slower market, and they want to price it in now.

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