In the past two weeks we saw a good number of properties sell. There were three price ranges that saw a higher percentage than the others. We saw about a 10% growth in these three price ranges. In the past two weeks four properties sold in the 0-$500K range bringing the year to date total to 46. We saw six properties sell in the $1M-$1.5M range bringing the total to 66. We also saw three properties sell in the $3M-$4M bringing the year to date total to 35.
Year to Date Available
In an effort to define the different markets as a good time to buy or sale I believe one needs to look at the months on average it would take to sell through the inventory we have. We are currently 36 weeks through the year. In the $0-$500K range we have 7.04 months on average to sell through. $500K-$1M we have 6.41 months. In the $1M-$1.5M we have 10.19 months. $1.5M-$2M we have 9.56 months. $2M-$3M we have 12.04 months. This is half of a month's drop in just two weeks. There was a two week drop as well in the last newsletter meaning in the last three weeks we have dropped a month of inventory in this price range. $3M-$4M we have 17.08 months which is a six week drop in just the past two weeks. $4M-$5M we have 29.9 months. $5M-$7.5M we have 27.1 months. $7.5-$10M we have 33.21 months. This is a seven month decreas but is realistically one property selling in this price range. $10M and above we have 38.2 months.
