Leon County Existing Home Sales Down in November

Sales of existing single-family homes in Leon county decreased 19.4% when compared to numbers sold in the same month one year ago. There were 227 single-family home resales in November 2017 and 183 resales in November 2018. Last month there were 211 existing single-family homes sold.

The average sales price in November 2018 increased 19.2% to $279,463 from $234,500 one year ago.

Annual trends show that single-family home sales decreased to an annual rate of 3,084 in November, down from the 3,128 reported last month. The annual rate of sales is now 3.1% below the annual rate of 3,184 reported a year ago.

The National Association of Realtors reported that single-family home sales sit at a seasonally adjusted annual rate of 4.71 million in November. That is up from 4.62 million in October, but 6.7 percent below the 5.05 million sales pace from a year ago. The median existing single-family home price was $260,500 in November, up 5.0 percent from November 2017.

Existing-home sales in the South grew 2.3 percent to an annual rate of 2.20 million in November, down 5.6 percent from last year. The median price in the South was $223,600, up 3.2 percent from a year ago.

Lawrence Yun, NAR’s chief economist, says two consecutive months of increases is a welcomed sign for the market. “The market conditions in November were mixed, with good signs of stabilizing home sales compared to recent months, though down significantly from one year ago. Rising inventory is clearly taming home price appreciation.”

The chart below shows the annual rate of single family sales in Leon county over the last 24 months.

The average price of homes sold over the last twelve months in Leon county was $259,688. This is 8.9% above the $238,524 sales price reported one year ago.

The average sales price chart below shows the 12-month and 3-month average sales price of single-family homes in Leon county over the last two years.

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