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By Blog
It’s safe to say that Sales in September are going like hotcakes! That’s a massive 28.6% increase in sales from last year.
The median sales price is up from last year too – a 12.7% increase.
Sellers are now receiving more of their original asking price – 1.6% more in fact!
Wow! In September 2019 the average time to contract was 53 days – now you’re looking at just 27. That’s a huge 49.1% decrease.
This is an important one – you’re looking at 32.6% less active listings on the market now when compared to September 2019.
That also means less supply of inventory. 2.9 now compared to 4.3 in September 2019. That’s a 32.6% decrease.
Let’s also take a look at condos and townhomes.
WAY more sales of condos and townhomes this year compared to last. A whopping 28.8% increase.
Median Sales price is up too – by 9.4% in fact!
But here you’ll see we actually have more months supply of condos and townhomes available. A 6.3% increase from September 2019. Condos are still available despite prices going up.
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Jeff Lichtenstein is owner and broker of Echo Fine Properties, a luxury real estate brokerage selling real estate in Jupiter and homes in Palm Beach Gardens, Florida. He has 20 years of real estate experience, has closed over a 1,000 transactions, and manages over 50 agents in a non-traditional model of real estate that mimics a traditional business model. Some publications he has been quoted in.
Feel free to ask him a question directly at jeff@EchoFineProperties.com
Posted in Uncategorized on October 24, 2020 at 7:24 am.
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