Hard to believe that 1st quarter 2019 has come to an end. It’s been a tough 3 months. With all the rain and crazy weather, I’m surprised that anyone wanted to purchase a home. Here is a quick recap of the sales results for March 2019.
- There was no significant change in closings from February to March 2019. Could this be the start of a trend?
- What is concerning is the decrease in sales when compared to closings from February to March 2018. In 2018 sales increased by 40% from February to March. In 2019 sales increased by 18% from February to March. The question is why was there such a small increase in sales I 2019 ?
- Good news is that new construction sales were up from February 2019.
- The number of permits pulled in 1st Quarter 2019 is down by 19% from 1st Quarter 2018.
Overall Market Activity March 2019
| Qty | Avg Sqft | Avg DOM | Avg. Sales Price | Months Supply | Active Homes on market |
|
|---|---|---|---|---|---|---|
| Total Sales | 88 | |||||
| 100-199 | 20 | 1,482 | 53 | 156,706 | 1.5 | 31 |
| 200-299 | 32 | 2,119 | 63 | 252,891.00 | 2.3 | 74 |
| 300-399 | 21 | 2,835 | 133 | 346,654.00 | 3.5 | 74 |
| 400-499 | 5 | 3,354 | 84 | 464,900.00 | 10.6 | 53 |
| 500-599 | 4 | 3,797 | 141 | 531,725.00 | 6.75 | 27 |
| 600-699 | 5 | 3,498 | 6 | 623,609.00 | 4 | 20 |
| 700-799 | 9 | |||||
| 800-899 | 10 | |||||
| 900-999 | 7 | |||||
| 1 million | 1 | 4,085 | 22 | 1,038,857.00 | 11 | 11 |
Monthly Recap-March 2019
| Dec 2018 | Jan. 2019 | Feb. 2019 | March 2019 | |
|---|---|---|---|---|
| Total Units | 72 | 51 | 72 | 88 |
| 100-199 | 18 | 12 | 13 | 20 |
| 200-299 | 22 | 19 | 23 | 32 |
| 300-399 | 16 | 11 | 18 | 21 |
| 400-499 | 6 | 6 | 8 | 5 |
| 500-599 | 5 | 1 | 5 | 4 |
| 600-699 | 1 | 1 | 4 | 5 |
| 700-799 | 1 | 0 | ||
| 800-899 | 1 | |||
| 900-999 | 1 | 0 | ||
| 1 million | 2 | 0 | 1 | 1 |
| 2 million | 0 |
Sold Market Percentage-2019
| Sold Market Percentage | Dec 18 | Jan 2019 | Feb. 2019 | March 2019 | April 2019 | May 2019 | June 2019 | July | August | Sept 19 | Oct 19 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Sold | 72 | 51 | 72 | 88 | 87 | 113 | 139 | 105 | 108 | 94 | 103 |
| Existing Homes | 72% | 76.5% | 76.4% | 64.80% | 68% | 77% | 77% | 78% | 72% | 81% | 83.5% |
| New Construction % | 28% | 23.5% | 23.6% | 35.2% | 32% | 23% | 23% | 22% | 28% | 19% | 16.5% |
Active Market Percentage- 2019
| Active Market Percentage | Jan 2 2019 | Feb 1 2019 | March 6 2019 | April 1 | May 1 | June 5th | July 3rd | August 5 | Sept 5 | Oct | Nov 7 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Active | 283 | 278 | 289 | 318 | 332 | 310 | 316 | 340 | 345 | 348 | 335 |
| Existing Homes | 60% | 59 % | 59% | 63% | 65% | 67% | 65% | 66% | 64% | 62% | 62% |
| New Construction % | 40% | 41% | 41% | 37% | 35% | 33% | 35% | 34% | 36% | 38% | 38% |
New Construction-Sold April 2019
| Qty | Avg Sqft | Avg DOM | Avg. Sales Price |
|
|---|---|---|---|---|
| Total Sales | 28 | |||
| 100-199 | 0 | 0 | 0 | 0 |
| 200-299 | 11 | 1,934 | 73 | 263,397.00 |
| 300-399 | 8 | 2,522 | 163 | 353,479.00 |
| 400-499 | 6 | 2,742 | 250 | 438,519.00 |
| 500-599 | 2 | 3,796 | 32 | 544,900.00 |
| 700-799 | 1 | 2,792 | 0 | 743,185.00 |
New Construction- Active Homes March 2019
| Qty. | Avg. Sqft | Avg. Sales Price |
|
|---|---|---|---|
| Total Active | 118 | ||
| 100-199 | 6 | 1,242 | 169,150.00 |
| 200-299 | 34 | 1,554 | 248,321.00 |
| 300-399 | 39 | 2,483 | 351,856.00 |
| 400-499 | 26 | 2,933 | 440,862.00 |
| 500-599 | 6 | 3,409 | 530,113.00 |
| 600-699 | 4 | 3,674 | 639,475.00 |
| 700-799 | |||
| 800-899 | 1 | 2,868 | 821,900.00 |
| 1 million | 1 | 3,957 | 1,240,000.00 |
| 3 million | 1 | 6,473 | 3,850,000.00 |