November 2012 Real Estate Statistics

Hello Fort Hunters!  Here we are in the height of the Holiday Season. 

Let’s take a quick look at how our community fared real estate wise in the month of November 2012.  We will be analyzing how November 2012 statistics stood up to October 2012 (month over month) as well as how November 2012 compares to November 2011 (year over year).

The chart below shows incredibly strong numbers both year over year and month over month – we are up in every single financial category.  Our sold volume is almost 65% higher than November 2011, and over 35% higher from last month.  17 homes closed in November in our zip code and their median and average price points are up both year over year and month over month.  We don’t hyper focus on the average price, as discussed  in previous articles, because we have price points in this zip code that vary from the low 400’s to well  over 1 million dollars. 

Days on market numbers are less than half of what they were in November 2011 and almost 40% higher month over month.  We are seeing homes that are priced correctly going under contract very quickly.  Homes that are not adjusting their price point to the voice of the market continue to accumulate days on markets.  Our higher price point homes, over 1 million usually take longer to sell then lower price point homes. 

The original list price ratio, compared to the sold price is stable both year over year, and month over month.  Sellers are getting roughly 96% of their asking price.  There are many jurisdictions in the United States that would be very jealous of our real estate sales statistics.

Statistic

Values

Year over Year

Month over Month

Total Sold Dollar Volume

$11,529,700

+64.79%

+36.31%

Closed Sales

17

+54.55%

+6.25%

Median Sold Price

$675,000

+14.41%

+22.73%

Average Sold Price

$678,218

+6.63%

+28.29%

Average Days on Market

75 days

-52.53%

+38.89%

Average Sold to Original List Ratio

96.09%

+2.84%

+2.86%

The snapshot at right shows sales activity totals from the last 5 years in November. Our robust sale numbers, both in closed sales, and homes that are under contract (pending sales) are significantly higher than November sales numbers have been historically.

This chart examines a bit further in depth the comparison between November 2012 and November 2011.  You can see that there were more closed sales, higher sales volume, higher average and median sold prices, and that we have improved on the days on market and the average sold price compared to original list price ratio this year vs. last year.  All good things!

Sold Summary

Nov 2012  

Nov 2011

% Change

Sold Dollar Volume

$11,529,700

$6,996,805

64.79%

Average Sold Price

$678,218

$636,073

6.63%

Median Sold Price

$675,000

$590,000

14.41%

Units Sold

17

11

54.55%

Average Days on Market

75

158

-52.53%

Average List Price for Solds

$691,668

$642,618

7.63%

Average Sold Price to Original List Price Ratio

96.1%

93.4%

2.84%

Lastly, a quick snapshot of our November inventory 2012 compared to 2011.  Huge increases in many categories, with the exception of active listings.  Inventory is down, demand is high, interest rates are at historical lows and well priced homes are flying off the shelves.  Multiple offers are occurring, and take a look at the increase in under contracts from this November compared to last November;  up 200% for all pending sales!

Inventory

Nov-12

Nov-11

% Change

Active Listings

45

52

13.46%

New Listings

11

7

57.14%

New Under Contracts

5

5

25%

New Contingents

12

3

300%

New Pendings

17

7

142.86%

All Pendings

27

9

200%

Please let us hear from you with any questions or comments.  We love to talk about real estate.

Happy Buying and Selling!

Hope your holidays are warm and wonderful.  All great things for 2013!

Lyssa Seward                                                                                          Jane Cole

Lseward@cbmove.com                                                                        jcole@cbmove.com

Coldwell Banker Residential Brokerage

310 King Street

Alexandria, VA  22314