For the first time this year, we had a second straight month of sales lower than the previous year. While the drop was substantial, 29%, it was somewhat offset by the 29% ($185,000) gain in median price. The average also rose by close to 16% (over $120,000). As expected, inventory dropped significantly as we enter into the holiday season. However, it currently stands at the lowest Dec. 1 level since 2009. The average price remains high due in part to a single listing, and despite other $3-million listings going off the market.
As noted above, we have seen two lower sales months for the first time this year. However, total sales are still up 13.5% over 2012. The median, while $89,000 (12.3%) ahead of last year, is still more than $125,000 below the year-end mark of 2006. The average sale is now 13% up from this time last year, but like the median, trails 2006 results by $222,000. Overall sales for the year in single family are now at almost $212 million, an increase of about 28% over last year.