3rd Quarter 2016 Sa...
Clear all

3rd Quarter 2016 Sales statistics for STX Real Estate

Posts: 12366
Illustrious Member
Topic starter

I received this information from a STX Realtor Newsletter.
Thought you all would find it informative.

From our research at the Recorder of Deeds Office, here are the 3rd Quarter 2016 sales statistics as compared to the 3rd Quarter 2015 numbers. This shows the number of sales and the dollar volume in each category.
Jan-Sep 2016 Jan-Sep 2015
Homes (155) $53,034,450 (126) $48,678,981
Condos (103) $18,311,650 ( 95) $16,094,925
Lots (160) $ 8,084,814 (140) $ 6,876,804
Total = (418) $79,430,914 (361) $71,650,710.

As you can see, the numbers of sales and the dollar volumes are up in each category. Overall this works out to a 12% increase in residential dollar volume and a 15% increase in the number of sales.
The Acreage/Commercial market jumped from $15.2 million (25 sales) to $20.5 million (26 sales).

PENDING. There are 115 pending residential sales compared to 104 last year at this time, compared to 72 in 2014, and 66 in 2013.

INVENTORY. As the number of sales increases, the Inventory shrinks. Presently available for sale on the MLS: 247 houses, 81 condos, and 552 parcels of land.

FINANCING. Loans to purchase houses and condos are available but it’s taking a slow 120+ days to process and fund the loans, mostly due to the new federal regulations. This makes cash offers extremely attractive.

Posted : October 25, 2016 9:35 pm
Posts: 2437
Noble Member

Condo inventory bottomed a few weeks ago and has since started shooting up, it's actually up to 87 today, presumably with the season starting people are now getting on the market.
I forget what it was a year ago, I think still well over 100. Many drop off the MLS without selling (at their price) to wait for a better market. I see the same units come back on the market months later with a higher listing price, not likely a re-sale. Listing prices are certainly creeping up as well.

Posted : October 25, 2016 11:47 pm
Posts: 12366
Illustrious Member
Topic starter

Sometimes condos (as well as other properties) will go under contract and for whatever reason, the deal falls through. Most sellers don't like to take their property off market, once listed. If you're getting financing, depending on mortgage company/bank, it can take minimum 60 days.

Posted : October 26, 2016 12:13 am
Search this website Type then hit enter to search
Close Menu