Leon County Residential Resales Flat in October

Sales of existing single-family homes in Leon county increased 1.4% when compared to numbers sold in the same month one year ago. There were 208 single-family home resales in October 2017 and 208 resales in October 2018. Last month there were 210 existing single-family homes sold.

The average sales price in October 2018 increased 3.0% to $240,967 from $234,053 one year ago.

Annual trends show that single-family home sales decreased to an annual rate of 3,128 in October, down from the 3,125 reported last month. The annual rate of sales is now 0.8% below the annual rate of 3,152 reported a year ago.

The National Association of Realtors reported that single-family home sales sit at a seasonally adjusted annual rate of 4.62 million in October, up from 4.58 million in September, and are 5.3 percent below the 4.88 million sales pace from a year ago. The median existing single-family home price was $257,900 in October, up 4.3 percent from October 2017.

Existing-home sales in the South rose 1.9 percent to an annual rate of 2.15 million in October, down 2.3 percent from last year. The median price in the South was $221,600, up 3.8 percent from a year ago.

Lawrence Yun, NAR’s chief economist, says increasing housing inventory has brought more buyers to the market. “After six consecutive months of decline, buyers are finally stepping back into the housing market,” he said. “Gains in the Northeast, South and West – a reversal from last month’s steep decline or plateau in all regions – helped overall sales activity rise for the first time since March 2018.”

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 $256,414. This is 7.9% above the $237,563 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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