O V E R A L L M A R K E T — Buyers have the wheel
The total value of sales in 3Q19 was up 5.5% to $475.71m over last year’s $450.83m bolstered by a 50% jump in transactions at the upper end ($5m+) of the price spectrum. However, the number of transactions in the third quarter declined (-)6.1% from 231 to 217, and YTD figures followed (-)11.2% vs 2018. Year to Date the total value of real estate sold is at $1.1b, a decline of (-)10.7% YoY. The average price of a home in the third quarter increased 12.3% from $1.95m to $2.19m from a year ago. The YTD average price is essentially flat at $2.1m.
To read the full 1Q2019 Snapshot, please click here.