In the real estate community the off-season months are a time to regroup for the New Year, and to tie up the lose ends of the very busy year we have had. Interestingly the months between November and February remain active in many ways. Buyers are are able to see properties without worrying about tenants, traffic and the urge to go to the beach. Those buying now can be in their properties for the summer season or have their property ready for renters. Sellers can prepare their properties for the new selling season. Renovations can be completed, and property owners can enjoy their hones for the holiday season.
The Goode and Farmer Q3 report reported crazy strong numbers as condo sales increased 50% YTD and single family sales increased by 100%. In October the strong trend continued as 11 condos sold with an average sales price of $423K, and 5 single-family homes sold with an average sales price of $1.107M. There are currently 122 condos on the market, vs 134 just a month ago, and 59 single family homes vs 72 a month ago.
Interesting fact. 32% of all condos sold last year sold in the 4th quarter, and 38% of all single family homes sold in the 4th quarter. Another very strong indication that the so called off season is really still the “on season” and that while things do slow down off season they certainly don’t come to a halt in real estate.