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. During November single family home sales in Tequesta were similar to some neighboring communities with slower sales and lower median prices. During November our local MLS system shows a total of 9 successful closings as of this mornings update. That compares with 11 sales in October and the lowest monthly total since May when we had 8 sales. Last year we had 13 sales during the month of November. The chart below shows the number of single family homes closed in the community by month for the calendar year.
Sales last month were not only slow but they were also low with 8 of the 9 sales priced $405,000 or lower. About the only good news was the sale of a luxury home at 18375 SE Federal Highway for $1,070,000. The chart below shows the percentage of sales by price category for the month of November.
With the majority of sales prices at lower prices as expected we saw a huge decline in the monthly median home sales price. The median price decreased significantly to $306,500 which is the 4th lowest level we have seen during the 2010 calendar year. Once again, the “season” should bring more sales of the higher priced product and no doubt we will see nice increases in the 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 Tequesta and the surrounding areas.
Always at Your Service,
Tom Priester e-PRO
”Results Driven Real Estate”
Keller Williams Realty