Like our previous five reports, this sixth sales report will detail the total number of residential sales in Leon County along with the price ranges of those sales, where those sales took place, and a few explanatory notes.
For the week of October 10th through October 16th, there were 28 residential sales in Leon County. This is the first time in our report history that there have been back-to-back weeks of similar sales numbers. This week's figure is consistent with my prediction that sales would hover in the mid-20s each week for the remainder of the year.
Of the 28 sales, 6 sales were under $100,000. Nine of those were over $200,000 with 3 of those 9 being over $300,000. The median sales price per square foot this week was $97.77 (about a dollar per square foot lower than last week). Expect this statistic to continue to fall for the rest of the year.
By quadrant, 15 sales were in the Northeast, 4 were in the Northwest, 4 were in the Southeast, and 5 properties sold in the Southwest. This week marks the first time in our report that the SW outperformed the NW and SE. Expect to see more properties selling in the Southwest part of town as investors scoop up properties at bargain basement prices.
This week's average ($167,460) and median ($150,000) sale prices varied more this week than they usually do, though the spread narrowed from last's week figures. Expect to see the average and median sales prices continue to plummet over the next 3-4 months.
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