Fall came faster than expected to Western and Midwestern markets in two new September market reports from online brokerages.
For the month ended Sept. 15, median list prices in 24 metropolitan areas were 14 percent above pries a year ago but down from a nearly 16 percent annual gain in August. Median price increases shrank in 19 out of 24 markets. The median sale price of about $272,000 in mid-September was also about 2% lower than in mid-August 2013, according to Lanny Baker, CEO and President of ZipRealty.
“Further moderation in trends was evident in sold-to-list price ratios, new listings volume, pending sales volume, and days on market data for mid-September,” said Baker. “The median number of days on market inched up from 28 in mid-August to 30 in mid-September, though houses are still selling faster this year than last year in every city except Phoenix.”
In September, home sales, prices, and inventory all dropped from August, according to Redfin’s analysis of 19 largely West Coast markets. Prices had their third consecutive month-over-month drop, falling 2.2 percent. Home sales dropped 18.8 percent from August, and inventory fell 3.4 percent. Year over year, prices are up 15.9 percent and home sales up 8.1 percent.
September 2013 | Month-Over- Month Change | Year-Over-Year Change | |
Median Sale Price | $330,470.00 | -2.20% | 15.90% |
Total Homes Sold | 73,781 | -18.80% | 8.10% |
Total Homes For Sale | 234,670 | -3.40% | -17.50% |
Redfin reported that
According to ZipRealty, the top 10 markets based on percentage median price growth as of Sept. 15 were:
Metro | Year-Over-Year Price Growth | |
1) | Sacramento | 33% |
2) | Las Vegas | 31% |
3) | Los Angeles | 26% |
4) | San Francisco Bay Area | 25% |
5) | Phoenix | 23% |
6) | Orlando | 21% |
7) | San Diego | 21% |
8) | Orange County | 20% |
9) | Portland | 15% |
10) | Chicago | 15% |
The 10 ZipRealty markets with the greatest number new listings as of Sept. 15 were:
Metro | YOY Increase in New Listings | |
1) | Denver | 19% |
2) | Tucson & Orange County | 15% |
3) | Baltimore | 14% |
4) | Washington, DC/Northern Virginia & Richmond, Va. | 11% |
5) | San Diego & Seattle | 10% |
6) | Raleigh | 9% |
7) | Dallas | 8% |
8) | Chicago & Orlando | 7% |
9) | Houston & Sacramento | 6% |
10) | Los Angeles | 5% |
http://www.realestateeconomywatch.com/2013/10/september-regional-reports-prices-sales-drop-sharply/
Just back out of hospital in early March for home recovery. Therapist coming today.
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