Total Residential Sales volume year-to-date for this year increased by 5.17% over last year while the number of units sold increased by 9 homes which was only a 1.08% increase. That figure in number-of-units-sold continues the trend that began about three years ago of reasonably flat sales. For instance in 2015, 840 homes sold yet in 2019 there were 841 homes sold January through September of each of those years. 2016 actually saw a decline in units sold, while 2017 was the peak at 851 homes and then 2018 dropped down to the 832 figure. The “big bump” was from 2014 to 2015 when it went from 724 homes sold all the way up to 840 in 2015. I would characterize that as a pretty steady market with no huge spikes up or huge collapses downward either.
A couple of other numbers jumped out at me. The number of units sold between $400,000-$600,000 dropped by 17 units this year but the next category, $600,000-$800,000 increased by 19 units sold. I think that reflects a continuing firming-up in that higher price category as well as a movement of the homes that used to be on the high $500,000 range that have now “crept” into the $600,000-$800,000 price bracket. That same sort of “bracket creep” as we call it, appeared to have occurred in the $800,000-$1 million price bracket which showed a decline of 12 units but in the over $1 million price bracket there was an increase of 13 units sold. The sales to list price percentage is stronger this year than last in nearly every price bracket even though in the $1 million and up price bracket there was a decline. That decline, however came about because of some very high-end auction properties that essentially sold at $0.50 on the dollar this past winter.