Homes sales in October failed to break out of the rut they’ve been in since August. And while you can chalk it up to seasonality - this is our out-of-season season, our in-season being Jan to June - it is nonetheless not terribly encouraging.
Here’s why. Sales this year – from Jan to July are up 14.5% over the same period last year.
But from August to October that gain has petered out to just 1.5% over last year.
On the other hand sold prices zoomed into the clouds in October, amongst the highest for the last 22 months for average prices, and the highest for the median.
Here’s a link to the 63 sold in October
Let’s see where this puts us for January thru October, this year vs. 2012.
2012 – 694 sold @ $460,002/$370,000 (avg/median sold $$)
2013 – 770 sold @ $461,552/$393,500
So, YTD, sales are up 11%, while the avg sold price has barely budged (up 0.33%) and the median is up 6.3% – moving the needle 1.3% from September’s totals.
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