YEAR END — IT TAKES TWO TO TANGO
Will buyers and sellers find a middle ground?
The total value of sales in 4Q19 was down (-)20.4% to $2895.42m over last year’s $363.55m dragged down by a 40% drop in transactions at the upper end ($5m+) of the price spectrum. YoY the number of transactions in the fourth quarter declined in every price category. In aggregate, the quarter saw a (-)15.1% dip from 186 to 158, and YTD figures followed (-)12.1% vs 2018.
Year to Date the total value of real estate sold finished at $1.391b, a decline of (-)12.9% YoY. The average price of a home in the fourth quarter declined (-)6.3% from $1.95m to $1.83m from a year ago. The YTD average price finished essentially unchanged at $2.04m.
To read the full 4Q2019 Year End report, click here.