It is so hard for me to believe that another year has almost rolled right on by. The next time I update our sales figures we will have already celebrated the New Year and 2011 will be well underway. A lot has transpired since my last report and probably the most important factor affecting the real estate markets, both locally and nationally, is the sharp upturn in interest rates we have experienced over the past 4 weeks. Hobe Sound has turned in a fantastic month of sales for single family homes in November; up just about 27% from October levels. A total of 14 sales have been reported as of this afternoon on our local Multiple Listing Service to have closed during the month. The chart below shows the number of single family homes closed in the community by month for the calendar year.
Sales last month were represented in every pricing category which is a good sign of continuing recovery in each market segment. Still, about 79% of all sales for the month were in the $500,000 and below category. That being said we had some great activity in the uber-luxury market with the successful closing of 202 Gomez Road on Jupiter Island for $7,750,000. The chart below shows the percentage of sales by price category for the month of November.
With the strong showing at the top end of the market and balanced sales across the board it is no surprise that we have seen another nice increase in the median price of homes sold during the month of November. The median price jumped to $362,500 which is the highest monthly level we have seen to date this year and the second record in a row. Once again, the “season” should bring more sales of the higher priced product and hopefully we will see a nice level in median sales prices over the coming months. The chart below shows median prices through the first eleven months of 2010.
A professional real estate agent watches these market trends very closely as the data is very important to our clients, whether they are buying or selling, to paint a picture of where the market may be heading. If you would like any additional information on a specific home, neighborhood, or community please feel free to contact me. I am easily reached at 561 308-0175 or via e-mail at firstname.lastname@example.org and would be happy to be of assistance. After just one call you will know why “Results Driven Real Estate” is your top choice for professional real estate services in the Hobe Sound area.
Always at Your Service,
Tom Priester e-PRO
”Results Driven Real Estate”
Keller Williams Realty