This is our first weekly sales report. As I mentioned in an earlier blog, these reports (with notes) will always reference data for the week prior because sales are typically reported in the MLS one to two days after they actually occur.
For the week of September 5th through September 11th, there were 25 residential sales in Leon County. Year-to-date, there have been an average of 46.2 sales per week, so 25 sales represents a significant slowdown (some of which we would expect given the seasonal nature of real estate sales).
Of the 25 sales, 10 of those were over $200,000 with 5 of those 10 being over $300,000. Those figures are encouraging for homes in the upper price ranges.
By quadrant, 11 sales were in the Northeast, 4 were in the Northwest, 8 were in the Southeast, and 2 were in the Southwest. I believe that we will continue to see the highest percentage of sales occurring in the Northeast as buyers continue a "flight to quality" (the Northeast has, generally, the best schools and nicest neighborhoods). Not surprisingly, 5 of the 8 sales in the Southeast have been in Southwood.
While this week's average sale price ($213,700) is well above the yearly average ($182,070), the median sale price ($159,990) is right in line with this year's figure ($159,000).
Check back in next week as we continue to monitor our weekly progress.
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