We had 162 closings in the month of September. (This is all closings, residential, commercial and land). This number is the highest for the month of September for the past 6 years. In the residential market, we have between 6 and 7 months of inventory market-wide: 9-12 months of inventory over $2 million, (strong buyers' market), and 3-4 months of inventory under $1 million, (balanced to sellers' market). The median price has been flat for the past 3 years at around $850,000; even though prices have continued to slide down over the past 3 years, a steady increase in the number of sales over $1 million, has kept the median steady. We are now seeing around 35% of our closings over $1 million, up from 18-20%.
10/3 - 10/9
New Listings: 51
Price Improvements: 55
Pending: 35 breaks down to:
Under $600k: 15
$600-800k: 8
$800k-1 million: 5
$1-2 million: 6
$2-4 million: 1
$4-8 million: 0
$8 million+: 0
Closed: 26 breaks down to:
Under $600k: 7
$600-800k: 5
$800k-1 million: 5
$1-2 million: 5
$2-4 million: 2
$4-8 million: 2
$8 million+: 0
Off Market (expired, canceled, withdrawn): 15
Back On Market: 12
