Several high end sales in February push up transactions, sales volume in Jackson Hole Real Estate

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The Colbert Real Estate Report

Monthly Market Update for March 2015

Jackson Hole, WY

Summary – Feb 2015:

  • 35 :: Total residential sale transactions (up significantly from Jan’s 22)
  • $47,000,000 :: Total residential sales volume reported to MLS (double last month’s $23.6m)
  • $1,500,000::  Average sales price of reported sales (up significantly from last month’s $1,124,000)
  • 94% ::  Ratio of sales price to list price (slight dip from the last few months)
  • 243 ::  Average days on market prior to selling (back up from last month’s 148)

What it means:  After a slow start to 2015 (See Last Month’s Market Report), sales in February picked up the pace. Last month we saw 37 transactions, which was the highest level of transactions in the past 4 months. Sales Volume in Teton County in February reached $47 million in reported sales, also the highest in the last 4 months (see charts below). In February, there was an estimated additional $19 million in unreported sales, including two large land parcels located up north in Bar BC East – a 49 acre parcel listed at $9.5 million and a 35 acre parcel listed at $9 million. Due to several high end sales in February (see “What Sold?” below), the average sales price was pushed up to $1.5 million, the highest average sales price since September 2014 (see chart below). The sales price to list price ratio dipped down to 94%, while days on market increased to 243 days. We are continuing to see well priced properties, in high demand sub-markets, sell very quickly. In February in particular, we saw several lots sell after long exposure time on the market (see “What Sold” below).

Transactions

Volume

AVSP

Click HERE to read the full Monthly Market Update for March 2015.

Please also consider following me on social media for up-to-date market statistics, Hot Picks and real estate news and trends.

         

 

“Sister” Resort Towns across the West show similarities and differences to Jackson Hole

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This week I was able to attend an event hosted by the Western Mountain Resort Alliance (WMRA). The WMRA is a group of Realtors who work in real estate markets located in destination ski resorts around the Mountain West. I always find it interesting to here about our “sister” ski resort real estate markets. This week we heard from representatives from markets in Park City, Sun Valley, Tahoe and Whistler. I thought I’d share a few interesting stats/trends from each market.

Moutain

Tahoe

  • Average Sales Price (2014): $675,000
  • Sales Volume 2014: $1.2 billion
  • Most sales in the area occur between May-October. Tahoe sees several more visitors in the summer then in the winter (similar to Jackson). Tahoe is well known for their biking, golf and beach!
  • Overall listings are up 7%, while units sold are down 8%. However, despite the general laws of supply and demand, prices are up, with Buyers gravitating towards the $2+ million market, which saw 64% more transactions in 2014 vs 2013.
  • Vacant land sales are down as most of the inventory was sold off in 2013. This pushed the prices of the remaining lots up, which pushed buyers into the single family home market.
  • Tahoe’s lack of snow pack is a significant issue affecting not only the ski resorts, but also increasing wildfire risk which is causing home insurance rates to sky rocket.

Whistler

  • Average Sales Price (2014): $721,000
  • Sales Volume in 2014 ($520 million) was up almost 20% compared to 2013 ($450 million).
  • Inventory is significantly low right now. Last year there were 770 sales in Whistler, however currently there are only 430 active listings!
  • Single family homes (or as they call them in Whistler – “Chalets”) in the $1-2 million range are the biggest segment in the Whistler real estate market. The majority of condos sell between $200,000-$500,000.
  • The majority of real estate purchasers are from Canada, while only 6% of buyers in 2014 were from the United States.
  • Whistler’s market’s biggest challenge is low inventory, which is a result of limited available land (similar to Jackson Hole).

Park City

  • Average Sales Price (2014): $726,000
  • Sales Volume 2014: $1.6 trillion (nearly 3 times that of Jackson)
  • Since the take over of Park City ski resort by Vail Resorts, the area has seen prices increase, sales occur more quickly and funky/undesirable properties starting to sell.
  • Of the 363 homes available for sale in the Park City area, only 10 are priced under $600,000 (similar to Jackson). This has caused Buyers to focus more on condos or vacant land, of which Park City has plenty of supply (see below).
  • There are 44 available lots for sale priced under $200,000. Most are located in a new golf course community and offer 1 acre lots (not bad!).
  • Park City hasn’t seen as much negative impact from the low snow year, as many visitors come to Park City for things other than skiing (shopping, dining, film festivals, etc.).
  • Park City is also seeing an influx of Buyers who are relocated to Salt Lake City for work, but prefer the life style offered by the resort community.

Sun Valley

  • Average Sales Price (2014): 682,000
  • Total Sales Volume in 2014: $355 million
  • The Sun Valley real estate market is really a tale of two cities/markets. Ketchum is the home of the Sun Valley resort and Hailey, ID is a neat little town located only 12 minutes from the ski resort (think Victor or Alpine communities but only as far as Hoback!)
  • The average sales price in Ketchum is $834,000, while in Hailey people can purchase property, on average, for $275,000.
  • In 2012, roughly 50% of Sun Valley’s real estate sales were for distressed properties, today that number is around 6-7% of all sales (compare that to Jackson where we MAY have 1 distressed sale each month).
  • The County offices (County Clerk, Building & Planning Dept, etc.) only work 4 day weeks (taking Fridays off). This can make it hard to close transactions on time or receive proper County sign off on new construction. How strange!

Below is a comprehensive look at each of the mountain town’s 2014 sales numbers including transactions, sales volume, average sales price, etc. Teton County is the last column. We had the highest average sales price ($1.3 million) and median sales price ($713,000) by far, however our sales volume was only 1/2 of Tahoe’s and almost 1/3 of Park City’s. (Sorry for the small print – it’s best to open the photo and zoom in.)

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Low Inventory contributes to low sales, volume for 2015

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The Colbert Real Estate Report

Monthly Market Update for February 2015

Jackson Hole, WY

Summary – Jan 2015:

  • 22 :: Total residential sale transactions (down significantly from Dec’s 34)
  • $23,600,000 :: Total residential sales volume reported to MLS (down from last month’s $29.3m)
  • $1,124,000::  Average sales price of reported sales (up from last month’s $946,000)
  • 95% ::  Ratio of sales price to list price (same for the 4th month in a row)
  • 148 ::  Average days on market prior to selling (down significantly from last month’s 215)

What it means:  The beginning of 2015 was off to a slow start in terms of both transactions and sales volume, but the average sales price was up. There was only 22 sales in January; the lowest amount in over 2 years! Sales Volume remained low (under $30 million) for the third month in a row. (See charts below). Despite low transactions and volume, the average sales price increased after two months below the $1,000,000 mark. These trends are a result of a very limited inventory in the Jackson Hole real estate market – the lowest we’ve seen in 25 years!  (see Market Focus below). There was only 1 unreported sales price in the MLS in January (estimated at $850,000), however it is likely that there were several sales handled completely outside of the MLS, which is a typical occurance as inventory shrinks. The average days on market decreased signficantly (after removing two outliers) suggesting that properties are moving much more quickly (again a result of low inventory levels). As we move into 2015, we should see the trend of increasing prices continue until more inventory comes onto the market.

transactions

sales volume

avsprice

 

Click HERE to read the full Monthly Market Update for February 2015.

Please also consider following me on social media for up-to-date market statistics, Hot Picks and real estate news and trends.

         

 

The Jackson Hole Report: Year End Update

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Extremely low inventory levels continue to contribute to fewer sales, while pushing prices up in Teton County

My colleague at RE/MAX Obsidian Real Estate, David Viehman, has been collecting stats on the Jackson Hole Real Estate Market for the last 25 years. Every quarter he publishes The Jackson Hole Report, an in-depth look at real estate sales, market trends and an analysis of different market segments. David’s report not only includes all the MLS sales, but he is also able to track sales happening outside of MLS. Below are some interesting statistics from his Year End Report. His entire report can be found HERE. All statistics (unless otherwise noted) are through the year end 2014 and are compared to 2013.

THE OVERALL MARKET

  • All types of properties (single family homes, condos, land) saw fewer sales in 2014 (compared to 2013) as the total number of sales in Teton County decreased by 12%
  • Overall sales volume was also down across the board, dropping 8% in 2014
  • Overall available inventory is down 15% from last year, and is now at the second lowest level in 25 years – which obviously contributes to the low sales transactions and sales volume
  • The shortage in supply has pushed prices up – the average sales price jumped 18% from 2013

SINGLE FAMILY HOMES

  • Total Single Family Home sales volume is down 16% compared to 2013
  • The average sale price rose by 5%
  • Current available inventory is the lowest in 25 years
  • In 2014, there were 123 sales under $1 million (representing 51% of all single family home sales) however only 19 homes are currently on the market in this price point (representing only 17% of all single family home listings)
  • Of the 113 homes currently listed, the average listing price is $4.25 million
  • Least expensive single family home listing: a 2 bedroom older home in Buffalo Valley for $465,000
  • Most expensive single family home listing: a 7,583 sq ft private 72 acre estate on the Snake River for $24.75 million (pictured below)

SnakeRiverHome

CONDO/TOWNHOME

  • Total condo/townhome sales were down 10% compared to 2013, while sales volume fell by 9%
  • Average sales price was UP by 9%
  • Currently only 4 condos are available in Teton County for under $300,000
  • 56% of all condos sales were under $500,000, however currently there are only 11 condos for sale in this segment
  • Available inventory is down 23% compared to this time in 2013, marking the 3rd lowest condo inventory in the past 25 years
  • Least expensive condo listing: a 558 sq ft, 1 bed/1 bath condo at Snake River Lodge & Spa in Teton Village for $270,000 (pictured below)
  • Most expensive condo listing: a 2,240 sq ft, 3 bed/3 bath condo for $3.1 million at the Four Seasons Resort

SnakeRiverLodge

VACANT LAND

  • Total lots sales in 2014 dropped 14%
  • The average sales price was up 4% compared to 2013
  • The number of lots under contract has dropped by 40%, while the average listing price for lots under contract has jumped 180%
  • Available lot inventory is down 12% compared to this time in 2013
  • Average listing price for vacant lots in Teton County is $2.173 million
  • Currently there are 5 lots for sale in Teton County priced under $300,000
  • With home inventory at an all time low, we should see demand increase for vacant land

Best of Jackson Hole – JH Weekly’s Reader’s Poll – 2015

With the help of my friends and customers, I’ve been voted one of Jackson’s Best Realtors since 2012 and am hoping you can help me earn the GOLD medal this year!

May I ask for your vote? 

BestofJH2015

Visit www.jhweekly.com and click on the icon on the right hand side. After you enter your name/email you can start voting. Be sure to vote for all your other Jackson favorites. It’s fun!
I very much appreciate your support!

2014 Year in Review: Market Trends and Sale Statistics for the Jackson Hole Real Estate Market

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Over the course of 2014, I have been tracking many different sale and market statistics which all help paint a picture of the real estate market in Jackson Hole over the past year. Below are some of the take-aways from the Jackson Hole real estate market in 2014:

Quick Stats – 2014:

  • 447 total real estate transactions in 2014
    • 189 single family home sales
    • 163 condos and townhomes sales
    • 95 land sales
  • Reported sales volume of $440 million
  • Additional unreported sales volume of $127 million
  • Estimated TOTAL sales volume of $567 million
  • Average sales price (including unreported sales) = $1,268,000

Average Days on Market measures the amount of time an average property spends on the market from the time of listing to the closing date. There are always outliers and in my sales tracking, I try to exclude any listing that has been on the market for more than 1,000 days. Since the start of 2014, days on market have been declining, and have hovered around 200 days for the last few months. Consistently in 2014 we saw well priced properties and/or properties in low-inventory, high-demand sub markets sell very quickly, many times going under contract immediately after they were listed. That being said, many sellers also wanted to test the market and priced their properties above market value to see if they would get any bites. Sometimes this led to increased days on market. I think we will see this trend (low days on market) continue until inventory levels increase. Many times properties are not even officially hitting the market before being placed under contract, as realtors are able to find a buyer through their own contacts or through a colleague at their office. (Note: If you are a Buyer searching for a specific property, please contact me so that I may be on the lookout for future listings for you.)

DOM2014

 

As mentioned in the Quick Stats above, the Average Sales Price in Teton County for 2014, including unreported sales in MLS, is estimated to be around $1,268,000. In every month in the past year, the monthly average sales price hovered just under $1,000,000 (see chart), with the exception of September & October when the monthly average sales price was over $2 million and just under $1.4 million, respectively. These months obviously drove the annual average sales price up. In 2014, the average sales price for single family homes was just under $1.5 million, while the average sales price for condos and townhomes in Teton County was $587,000. The average sales price for land sales was just under $1.1 million.

avgsales2014

 

In analyzing the Breakdown of Sales by Price Point in 2014, a few trends become clear. The majority of residential sales in Teton County last year were in the $500,000 – $1,000,000 range. These sales included single family homes in the Town of Jackson and south of Town, condos in Teton Village and higher-end/larger condos in The Aspens. Only 9% of all sales in 2014 sold for under $300,000 and were usually for smaller condos in the Town of Jackson. More than 1 out of every 4 sales in 2014 was for property valued over $1 million.

BreakdownPriceRes

The breakdown for land sales in 2014 shows a similar distribution, with the majority of land sales occuring in the $500,000 – $1,000,000 range. Nearly 1 out of every 5 land sales in 2014 was priced under $300,000 and represented several lots in the Town of Jackson and south of Town near Hoback. There were 7 land sales above $3 million in 2014 which included lots in 3 Creek Ranch, Crescent H and Shooting Star.

BreakdownPriceLand

 

Happy New Year! 

Thank you to all my clients and colleagues for making 2014 a great year in real estate. I was able to help 19 different buyers and sellers purchase or sell property in Teton County this past year. I look forward to helping many more people in 2015!

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End of 2014 in Jackson Hole Real Estate Market sees only slight increases in transactions, sales volume

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The Colbert Real Estate Report

Monthly Market Update for January 2015 & Year End 2014

Jackson Hole, WY

Summary – Dec 2014:

  • 34 :: Total residential sale transactions (up slightly from Nov’s 30 transactions)
  • $29,300,000 :: Total residential sales volume reported to MLS (up slightly from last month’s $23.8m)
  • $946,000::  Average sales price of reported sales (up slightly, still close to typical average)
  • 95% ::  Ratio of sales price to list price (same for the 3rd month in a row)
  • 215 ::  Average days on market prior to selling (up from last month’s 170)

What it means: The year 2014 did not end with much fanfare for real estate in Teton County . Transactions were only slightly up from November and were below average compared to the rest of 2014 (see chart below). The summer and fall months of August, September and October proved to be the high point for the year, accounting for over 35% of the year’s transactions (159 sales). Sales Volume in December was also up slightly from November, but significantly lower than the monthly average for 2014 ($36,700,000 per month). There were 3 unreported sales in December, accounting for an estimated $8 million in additional sales volume, bringing the total sales volume in December to around $37 million, which is one of the lower volumes seen in 2014 (see Sales Volume WITH Unreported Sales chart below). August, September and October accounted for over $200,000,000 in sales, a whopping 47.5% of sales volume for the entire year!  The average sales price in December remained close to average at $946,000. The sale price to list price ratio in December stayed at 95% for the third month in a row and reflected a month that saw a handful of sales at or above list price as well as several heavily discounted sales (10% or more). Properties that are priced competitively and/or those that are in low inventory segments, continue to sell very quickly, while sellers who are testing the market tend to have properties that stay on the market longer or sell at a discount.

Trans.2014

SalesVol.2014

unreportedsales.2014

 

Click HERE to read the full Monthly Market Update for January 2015 and Year End 2014.

Please also consider following me on social media for up-to-date market statistics, Hot Picks and real estate news and trends.

         

 

Real Estate Transactions, Sales Volume down after busy selling season in Jackson Hole

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The Colbert Real Estate Report

Monthly Market Update for December 2014

Jackson Hole, WY

Summary – Nov 2014:

  • 30 :: Total residential sale transactions (down significantly from last month’s 56)
  • $23,800,000 :: Total residential sales volume reported to MLS (only 1/3 of last month’s volume)
  • $915,000::  Average sales price of reported sales (down again closer to typical average)
  • 95% ::  Ratio of sales price to list price (same as last month)
  • 170 ::  Average days on market prior to selling (down from last month’s 206)

What it means: After a very active summer and fall, this off season saw the real estate market cool off a bit. There were only 30 residential sale transactions in the month of November, one of the slowest month’s in the past year (see chart below). Sales volume also dropped significantly, down from $73 million in October and $90 million in reported sales in September. There were 4 unreported sales in November, accounting for an estimated $18 million in additional sales volume, bringing the total sales volume in November to just under $41 million, which is this lowest total volume seen in the past 4 months. After high average sales prices of $2 million in September and $1.4 million in October, November saw the average sales price drop down to, well, average (see chart below). In November there were 10 condo sales under $500,000 (see “What Sold” below), which helped push the average sales price down this month. The sale price to list price ratio in November stayed at 95%, meaning that on average, buyers were getting a 5% discount to list price. However there were 3 properties that sold at quite a considerable discount including a house in Moran (sold at a 11% discount), a house south of Jackson (sold at a 15% discount) and a difficult building lot in Game Creek, which sold for 73% of the listing price. This suggests that, while we have seen listing prices increasing in the last several months (see Market Focus below), some Sellers are still very motivated to sell at market prices. Average days on market in November was the lowest seen in the past 2 years, probably a result of significantly lower inventory levels.

TransactionsDec2014

Volume.Dec2014

ASP.Dec2014

DOM.Dec

 

Click HERE to read the full Monthly Market Update for November. 

Please also consider following me on social media for up-to-date market statistics, Hot Picks and real estate news and trends.

         

 

Off-Season in Jackson Hole marked with Low Inventory and Bold List Prices

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marketfocus

If you are an active buyer in the Jackson Hole real estate market (or just simply someone who likes to stay on top of the market) you’ve surely noticed the lack of new inventory that has hit market in the last few months. Since October 1, only 45 new listings have come onto the market. Eleven of these properties have already sold or are currently under contract. This is hardly enough new inventory to make up for our very busy selling season this summer (July-Sept), which saw 143 transactions and $175 million in reported sales volume. As a result of a robust summer selling season (and low inventory levels) Sellers appear to be testing the market with more aggressive list prices. In particular, properties in the The Aspens, the Town of Jackson and Teton Shadows neighborhoods have seen some of the largest changes in available inventory and in some cases, listing prices. Has the market really increased that much and that quickly? Time will tell, as buyers decide if these prices truly reflect the new real estate market in Jackson Hole. One thing is for sure however, it appears to be a Seller’s market in many of the segments of the Jackson Hole Real Estate market.

CONDOS IN THE ASPENS

Cinqfoil

  • In the past 12 months, there have been 19 sales of 1 & 2  bdrm condos in The Aspens
  • One bedroom condos have sold, on average, for $314,000 or $400/sq ft
  • Four recent new listings of one bedroom condos range from $355,000-$389,000
  • Two bedroom condos have sold, on average for $450,000 or $424/sq ft
  • Two new listings of two bedroom condos are priced at $415,000 and $715,000

While not every condo unit is the same in The Aspens (some have an added loft, some have 2 bathrooms vs. 1 bathroom and some are end units or unique floor plans), the general trend shows an increase in pricing in one bedroom units in particular. The overall change in the two bedroom condo market is a bit more difficult to determine right now as one of the units is a very unique unit with a carport and ability to add a 3rd bedroom (pictured above) and the other unit appears to be listed by motivated sellers. 

TOWNHOMES IN TOWN (with a garage, priced under $550,000)

CottonwoodFlats

  • In the past 12 months, there have been 29 sales of townhomes in the Town of Jackson with a garage priced under $550,000
  • These townhomes have sold, on average, for $438,000 or $351/sq ft
  • Currently there is one townhome under contract in the Town of Jackson (priced under $550,000)
  • There are NO townhomes available for sale in the Town of Jackson, with a garage, priced under $550,000

This segment of the market has, in my opinion, seen the most drastic change in available (and affordable) inventory levels. After a year that saw almost 2.5 Town townhome sales per month, to not have a single available option in this price range at the end of the year is extreme. 

TETON SHADOWS

TetonShadows

  • In the past year, there have been 11 condo sales in Teton Shadows (a condo development located north of Jackson near Jackson Hole Golf & Tennis)
  • These condos have sold, on average, for $493,000 or $313/sq.ft.)
  • There are currently 0 Teton Shadows condos under contract
  • There is currently only 1 Teton Shadows condo on the market listed for $495,000 or $384/sq.ft

Similar to condos in The Aspens, Teton Shadows units can be quite different ranging in size (1,288sf – 2,088sq ft), bedrooms (2-4) and overall condition (original to fully remodeled). However, on average is appears that pricing is up (with more inventory we can be more certain) and inventory is down. 

Would you sell your home in …..Teton Shadows? …..The Aspens? …..Teton Village? …..the Town of Jackson? 

SoldSign

As seen from the above Market Focus, inventory is extremely low, especially in these areas.

Current Property owners are in a great position to take advantage of a Seller’s market.

If you are considering selling your home, I’d love the opportunity to share what I can do for you. 

Low inventory levels push prices up in Teton County real estate market

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The Jackson Hole Report Quarterly Update

Extremely low inventory levels are driving the number of sales down, but pushing prices up in Teton County, especially in the lower end of the market (under $1 million).  

marketfocus

My colleague at RE/MAX Obsidian Real Estate, David Viehman, has been collecting stats on the Jackson Hole Real Estate Market for the last 25 years. Every quarter he publishes The Jackson Hole Report, an in-depth look at real estate sales, market trends and an analysis of different market segments. Below are some interesting statistics from his 3rd Quarter Report. His entire report can be found HERE. All statistics (unless otherwise noted) are through the 3rd quarter 2014 and are compared to the first 3 quarters of 2013.

THE OVERALL MARKET

  • The total number of sales decreased by 11%, while sales under $1 million dropped 14%
  • The average sales price increased by 7% (Note: Exactly 1/2 of all transactions through Sept 2014 were conducted in CASH)
  • Available inventory (active listings) decreased by 15%, while available inventory under $1 million dropped 24%
  • The median listing price rose 39%, as a result of low inventory levels

SINGLE FAMILY HOMES

  • Total Single Family Home sales are down 24% (when compared to this time last year)
  • The average sale price is up 6%
  • Available inventory has dropped 16% and is down 29% in the under $1 million segment
  • 75 sales have occurred in the $500,000-$1,000,000 range (Hot Spot)
  • As of Oct 1, there were 37 homes on the market, with only 1 priced under $500,000 (located in Moran)

CONDO/TOWNHOME

  • Total condo/townhome sales are similar to this time last year
  • The average sales price is up 8%
  • Available inventory has fallen 32%
  • 88 sales have occurred in the sub $500,000 market, representing 54% of all condo/townhome sales (Hot Spot)
  • 24 sales occurred in the sub $300,000 market, however only 3 condos are currently listed in this price range

VACANT LAND

  • Total sales are down 11% compared to this time last year
  • The median sales price is up 11%
  • 36 land sales were under $500,000, representing 42% of all sales
  • However, pending land sales under $500,000 represent only 13% of all pending sales, compared to 50% in 2013
  • Available inventory for land is down 8%

Buyers Flock to East Jackson

The Jackson Hole Report’s 3rd Quarter Report also focuses on the recent surge of real estate activity seen in East Jackson. Since 2012, East Jackson has seen the largest concentration of new homes in Teton County with 44 completed and 10 currently under construction. However, of the 44 new homes, only 9 have been available on the open market. The majority (24) were custom built for home owners, while 11 were purchased directly from the developer. Of the 9 homes publicly listed (including the newly constructed home in the Gill Addition below), the average sales price was $1,247,000, or an average price per square foot of $400. These homes sold quickly, spending an average of only 47 days on the market before closing.

NewHome

 

Sales Transactions and Volume remain high in October in Jackson Hole Real Estate Market

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The Colbert Real Estate Report

Monthly Market Update for November 2014

Jackson Hole, WY

Summary – Oct 2014:

  • 56 :: Total residential sale transactions (up slightly from last month’s 50)
  • $73,700,000 :: Total residential sales volume reported to MLS (down from last month’s high of $90m)
  • $1,390,000::  Average sales price of reported sales (down from last month’s high of $2m)
  • 95% ::  Ratio of sales price to list price (up slightly from last month’s 94%)
  • 206* ::  Average days on market prior to selling (up slightly from last month’s 193)

What it means: After September’s unusually high sales volume ($90 million) and transaction level (50), October remained strong with 56 residential sale transactions accounting for over $73 million in reported sales volume. There were also 3 unreported sales in October, accounting for an estimated $17 million in additional sales volume, bringing the total sales volume to $90 million, which is in line with last month’s unusually high volume (see charts below). After an average sales price of more than double the typical average in September, last month’s average remained higher than usual at $1.39 million (typical average is right around $ 1 million). There were again several high end real estate sales that helped keep the average sales price and sales volume higher than usual (see the “What Sold” section below). In October, the sale price to list price ratio increased to 95% after an usually low percentage (94%) in September. *After removing 2 outlier properties that were on the market for more than 1,000 days, the average days on market were similar to last month and again low on average, as inventory levels remain very low.

Trans.Nov2014

SalesVol.Nov2014

Unreported.Nov2014

 

Click HERE to read the full Monthly Market Update for November. 

Please also consider following me on social media for up-to-date market statistics, Hot Picks and real estate news and trends.