Here is the second Thanksgiving helping of the weekly sales report. As always, this report will detail the total number of sales during the past week along with the prices and locations of those sales.
For the week of November 14th through the 20th, there were 35 residential sales in Leon County. This is a slight uptick from previous week (actually a 25% increase) but not a marked departure from our established pattern of sales in the mid-20s per week.
Of the 35 sales, over 25% of those (9) sold under $100,000. One of these purchases was a property that I bought personally for $13,500. I have reported on increased investor activity for several weeks, and I have put "my money where my mouth is". There are a lot of good investment deals out there. Call me for advice and perspective on buying investment property (850-251-6643). 12 of the 35 sales were over $200,000 with 7 of those 12 being over $300,000.
Sales in the Northeast were even stronger this week than in weeks prior. 60% (21) of the 35 sales last week were in the Northeast. Seven sales took place in the Northwest; three properties sold in the Southeast; four homes sold in the Southwest.
MY ADVICE: With increased sales percentage in the Northeast there is continued downward pressure on prices in the other three quadrants. If you want to buy in the NW, SE, or SW, I would encourage you to wait another few months as prices continue to decline. Sell in these quadrants as fast as you can. Look to buy in the Northeast.
The average sales price this week was $187,517 and the median sales price was $167,765 (slightly higher than the yearly average). Median sold price per square foot was $113.56. Expect that number to be significantly lower in future weeks.
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