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Mortgage rates were the best they’ve been in December since 2012. How were sales?

We had a nice pop in sales compared to 2018, but that’s about it:

NSDCC December Sales

Year
# of Sales
Median SP
Avg. Cost-per-sf
2015
258
$1,094,500
$477/sf
2016
240
$1,150,000
$502/sf
2017
225
$1,215,000
$573/sf
2018
199
$1,460,000
$560/sf
2019
224
$1,405,000
$586/sf

How much momentum are we carrying into the new year from the last couple of months?

The market has felt very active, but looking at the stats, we’ve only beat last year’s count by 13%…..which isn’t saying much, given how much lower rates have been (-20% YoY):

NSDCC November + December Sales

Year
# of Sales
Median SP
Avg. Cost-per-sf
2015
454
$1,107,500
$495/sf
2016
484
$1,199,995
$517/sf
2017
445
$1,215,000
$549/sf
2018
397
$1,375,000
$563/sf
2019
429
$1,350,000
$577/sf

Hopefully, the 2020 sellers are noticing that there haven’t been the big gains in pricing recently – but those who are willing to sell for about the same as what the last guy got should do fine!

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