When we look back on 2014, the monthly results are going to look like an erratic stock market chart. If nothing else, that is the lesson of single-month results in real estate. October closings jumped 66%, from 12 in 2013 to 20 in 2014. The median sales price was down sharply, by almost $140,000, or more than 17%. The average sale price was hit even harder, dropping more than $325,000, or 32%. Perspective is always important, and despite these surprisingly large drops, the total revenue for October 2014 was up more than 14%, or more than $1,827,000.
Inventory has started its normal slump toward a January low. At the beginning of November, we were at exactly the same level as last year. However, both years were quite a bit below November levels in previous years.