All of the statistical numbers are showing strong results this year through September, but there is some question on whether we are having as strong of fall market as in the last couple of years. It “feels” like there are fewer showings, and less contract activity,but we still have between now and Thanksgiving to put together some strong results for the 4th Quarter finish.
Overall, the month of September finished strong. As is typical, we are starting to see our fall months slow down from the peak summer season, and this year is no exception. With 109 total residential sales, this number is slightly lower than our summer numbers during June, July, and August. Very notably, though, the results from this September are higher than last year with 109 total residential sales (91 in 2014), and also higher than any September since 2008!.
Last year at this time, we had a total of 757 residential sales, compared to 873 this year. That’s a substantial difference, and it helps create a buffer in case the final quarter is a little soft.
Last month, we noticed the median sales price was down slightly compared to last year. At $349,000, we are pleased to see the median price has again risen higher than 2014, and still remains at a higher price than any year since before 2008.
Our average and median days on the market are lower than several previous years. This indicates the market is still turning over quickly, and the overall sales process is shorter than other times in recent history.
As we enter the last trimester of the year, we will be striving to put together contracts for a good finish of the year.