Someone asked for early October numbers so here they are. Please bear in mind that there tends to be late reporting which could and should increase the final sales number by about 10%. Also I cant calculate medians because of limitations with the MLS so I’ve included some averages which we all know can be distorted by a few outliers. Final disclaimer: All data in the MLS is self reported by Realtors w/o any formal reporting standards, thus it is pretty much garbage.
Detached Homes
Volume off 29%. (1915 to 1354)
Avg Sales price off $20K.($707K to $687K)
Avg Sales Price/Sq FT off 5% ($358 to $340)
Avg Market Time increased 2+ weeks (56 to 71 days)
Attached Homes
Volume off 35% (1049 TO 678)
Avg Sales price off $24K.($470K to $446K)
Avg Sales Price/Sq FT off 4% ($394 to $377)
Avg Market Time increased 2 weeks (59 to 72 days)
Although the numbers are off considerably it’s still amazing to see that 1354 detatched homes sold with an average price of $687k. Does anyone know if there are still a lot of toxic loans being written (interest only and option arms) to finance these recent sales?
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