SINGLE FAMILY HOME SALES:
January to March 2020
The 40 homes sold in the 1st Quarter of 2020 represent an increase of 21% over the same quarter of 2019. Days on market (DOM) overall were similar with one very distinct difference: the single home priced over $650,000. In 2019 it took 291 days to sell that home versus the 1 day in 2020 to sell a home in this price range. The 2020 sale went under contract in late February 2020 and closed at the end of March 2020. The 2020 sale had a closing price that was 4.1% over asking price Sales in the $650K and over category are few in number, tend to have unique characteristics, and are less comparable to each other.
Sale prices were higher in most ranges over the prior year with the exception of the $450K – $649K category. Homes sold in that price range also experienced a high discount from list price. Overall sales prices held close to asking prices.
This quarter’s data may prove to be an outlier when compared to the next few quarters based on the uncertainty of all economic activity impacted by the Covid-19 coronavirus. As of April 8, 2020 there are 32 single family homes listed for sale
| SALES DATA: January to March 2020 | |||||||||||
|
Number of Sales |
Days on Market |
||||||||||
| Price Range |
2019 |
2020 |
2019 |
2020 |
|||||||
| $200,000 – 349,999 |
6 |
7 |
46 |
36 |
|||||||
| $350,000 – 449,999 |
14 |
17 |
60 |
85 |
|||||||
| $450,000 – 649,999 |
12 |
15 |
63 |
42 |
|||||||
| $650,000 + |
1 |
1 |
291 |
1 |
|||||||
| Total Sales / Average DOM |
33 |
40 |
65 |
58 |
|||||||
|
Average Sales Price |
Average List Price |
Sold vs List % |
|||||
|
Price Range |
2019 |
2020 |
2019 |
2020 |
2019 |
2020 |
|
| $250,000-349,999 | 305,900 | 320,357 | 309,116 | 319,700 |
-1.0% |
+0.2% |
|
| $350,000-449,999 | 399,800 | 400,876 | 402,700 | 406,727 |
-0.9% |
-2.1% |
|
| $450,000-649,999 | 523,700 | 515,000 | 549,496 | 526,857 |
-2.4% |
-0.6% |
|
| $650,000 + | 701,900 | 760,000 | 699,900 | 730,000 |
+0.3% |
+4.1% |
|
| Average | $436,936 | $440,185 | $443,357 | $442,067 | -1.4% |
-0.4% |
|
