Monthly Market Reports

Group One Sotheby's International Realty November Market Report

WINDS OF CHANGE

Change is in the air. Closings for the first 8 months of 2018 were 7% ahead of the comparable period last year yet closings for the most recent 3 months (September through November) were 5% lower.  The median price increased 18%, from $257,000 in 2017 to $302,021 in 2018, creating affordability issues. 

Days on market decreased from 42 in 2017 to 35 in 2018 yet inventory increased slightly from 1.7 months in 2017 to 1.8 months in 2018.

Year-to-date sales in new construction were 20% higher even though the median price was 11% higher than last year.

The chart below compares monthly sales results for 2017 and 2018.

Posted by Brad Barker at 12/7/2018 2:34:00 AM
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