We are nearing the end of the year, and as we look at La Plata County real estate transactions for the month of November, we see a standout month in terms of total number of transactions. With 102 total sales, this is the highest November since prior to 2010. It’s only slightly below October in terms of total transactions, which is surprising given the fact late fall tends to be a stronger time of the year than the holiday months.
Year to date, we are at 1,079 total sales, and last year at this time there were 1,081 total sales. For a two-transaction difference, we are remarkable close. For most of the year, we have noted that 2018 has trailed behind 2017’s total transactions, so to be this close to the same year-to-date number is an interesting occurrence. With only one month left in the year, we will see if December will cause 2018 to outpace 2017, or if 2017 will still be a stronger year.
In terms of median sales price, we are currently at $387,500. This is higher than any median sales price since prior to 2010. The average days on the market remains lower than any year since prior to 2010, indicating a fast sales cycle.
All things considered, we are very encouraged by a strong November. As we noted last week, this time of the year tends to bring serious buyers and sellers, and we are still working with clients despite the holiday season. As always we are available for any questions or real estate needs you may have.