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Great Point Properties Market Update

Posted: September 19, 2017 by Edward Sanford

With August real estate sales in the books, house sales for 2017 are still slightly lower than 2016.  All of the decline is below the $2,000,000 price point, which is a direct reflection of the decline in inventory in that price range.  As of August 31, 2017 there were only 19 houses listed under $1,000,000.   As a result, below $2,000,000, transaction volume is down 20%. Inversely volume is up 18% above $2,000,000.  This discrepancy is reflected in total dollar volume which is up 12% over last year on 7% fewer transactions.

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  Dollar Volume     Transactions
August Sales 2017 2016 var.   2017 2016 var.
Houses $88,308,000 $73,400,000 20%   26 33 -21%
Land $4,867,000 $4,500,000 8%   6 3 100%
August Totals $93,175,000 $77,900,000 20%   32 36 -11%
YTD as of August 31 2017 2016 var.   2017 2016 var.
Houses $532,100,000 $474,000,000 12%   228 246 -7%
Land $26,900,000 $44,885,000 -40%   37 39 -5%
YTD Totals $559,000,000 $518,885,000 8%   265 285 -7%

Quick Stats as of August 31, 2017

vs. 2016 Year to Date

  • Avg. Sale Price: $2,333,897 20.8
  • Median Sale Price: $1,547,500 16.8
  • Avg. Sale to Assessed: 125% 0.8
  • Avg. Sale to Original Ask: 93% 0
  • Avg. Sale to Last Ask: 95% -1
  • Avg. Days on Market: 184 -8.5
  • Total Houses Sold: 228 -6.9
  • Total dollar sales: $532,128,544 12.4
  • Avg. Sale Price: $726,978 -37
  • Median Sale Price: $640,000 -17.8
  • Avg. Sale to Assessed: 146% 19.7
  • Avg. Sale to Original Ask: 94% -2.1
  • Avg. Sale to Last Ask: 96% -1
  • Avg. Days on Market: 354 105.8
  • Total Houses Sold: 37 -2.6
  • Total dollar sales: $26,898,185 -38.6

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2017 Q1

2016 Q4

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