The weekly sales report is nearing its year end, and we have some good news coming out of the slow holiday week. Remember, the weekly sales report details the number of weekly sales along with where those sales took place and for how much they sold.
For the week of November 28th through December 4th, there were 38 residential sales in Leon County. That figure represents a big jump from last week and an increase in sales of over 30% from the weekly numbers we've been seeing throughout the 4th quarter. I hope to see these numbers continue to pick up. This year we've been selling about 40 properties per week on average, and we'll need to match that average in 2011 to keep the market from sliding any further.
Of the 38 sales, only 5 were sold under $100,000. A surprising 16 properties sold over $200,000 with 8 of those 16 selling over $300,000. Though the higher end market (in Tallahassee, that's basically over $250,000) has been slow for some time, it seems that the affluent buyers are seeing real value now and deciding to purchase.
This week, an incredible 63% of the sales (24) took place in the Northeast; 7 properties sold in the Northwest along with 7 in the Southeast, but no houses sold in the Southwest last week.
The average and median sales prices for the week were up big with the average price topping $200,000 for the first time in recent memory at $204,812 and the median price coming in at $174,250. Let's hope this keeps up!
Saturday, December 11, 2010
Thursday, December 2, 2010
Weekly Sales (11/21 - 11/27/10)
Welcome to the after Thanksgiving version 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. Like most of us during Thanksgiving week, sales were sluggish.
For the week of November 21th through the 27th, there were a mere 18 residential sales in Leon County. That number is almost half of the prior week's sales (35), but most of that can be attributed to a week with only three working days. Averaged over a full week, we were extrapolated to have 30 sales and that would be consistent with our 4th Quarter weekly average in the mid-20s.
Of the 18 sales, almost half of those (8) sold under $100,000. Investment activity continues and there are a lot of good investment deals out there. Call me for advice and perspective on buying investment property (850-251-6643). 6 of the 18 sales were over $200,000 with only one of those being over $300,000.
Sales in the Northeast were not as strong last week as in weeks prior. 8 of the 18 sales last week were in the Northeast. Six sales took place in the Northwest; four properties sold in the Southeast; zero homes sold in the Southwest.
MY ADVICE: If you can afford it (and now-a-days, almost every can), I recommend buying in the Northeast. 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. Again, look to buy in the Northeast.
The average and median sales prices took a nosedive this week. Average price was $144,361 while the median price was very modest $138,500. Now is a great time to buy!
For the week of November 21th through the 27th, there were a mere 18 residential sales in Leon County. That number is almost half of the prior week's sales (35), but most of that can be attributed to a week with only three working days. Averaged over a full week, we were extrapolated to have 30 sales and that would be consistent with our 4th Quarter weekly average in the mid-20s.
Of the 18 sales, almost half of those (8) sold under $100,000. Investment activity continues and there are a lot of good investment deals out there. Call me for advice and perspective on buying investment property (850-251-6643). 6 of the 18 sales were over $200,000 with only one of those being over $300,000.
Sales in the Northeast were not as strong last week as in weeks prior. 8 of the 18 sales last week were in the Northeast. Six sales took place in the Northwest; four properties sold in the Southeast; zero homes sold in the Southwest.
MY ADVICE: If you can afford it (and now-a-days, almost every can), I recommend buying in the Northeast. 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. Again, look to buy in the Northeast.
The average and median sales prices took a nosedive this week. Average price was $144,361 while the median price was very modest $138,500. Now is a great time to buy!
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