December sales were down 14% year-over-year, and 19% below the average of the last five years:
| Year |
# of Sales |
Median SP |
Avg. Cost-per-sf |
Avg. DOM |
S/BD* |
| 2013 |
211 |
$1,075,000 |
$485/sf |
60 |
10.0 |
| 2014 |
250 |
$1,052,075 |
$482/sf |
61 |
11.4 |
| 2015 |
258 |
$1,094,500 |
$477/sf |
56 |
11.7 |
| 2016 |
240 |
$1,150,000 |
$502/sf |
55 |
11.4 |
| 2017 |
222 |
$1,212,500 |
$562/sf |
47 |
11.1 |
| 2018 |
192 |
$1,414,000 |
$548/sf |
50 |
9.6 |
*S/BD = Sales per business day, which had the same 14% YoY decline.
This far into January means there won’t be many more late-reporters to come.
At least pricing……oh never mind. There’s nothing price can’t fix.
Jim is a long-time local realtor who comments daily here on his blog, bubbleinfo.com which began in September, 2005. Stick around!
$/sf also down. Median still rising as many here predicted.
Timber….
Many? 😉
Makes sense too – who is going to buy (the affluent) and what will they buy? (the cool shacks)
When the cheapest inventory doubles in number, it shows that nobody wants junk.
(72 houses listed under $1M on Monday, and two days later there are 76)
Looks like a dislocation in the price of junk. 🙂