With yet another quarter of 2014 behind us, we step back to take a look at how our market performed this past quarter. Overall, the market continued to perform well in the third quarter and as it did in the first and second quarters of the year, performed better than the third quarter of 2013. A third straight quarter (seven quarters dating back to the first quarter of 2013) of year-over-year total sales growth is a sign of growing consumer confidence and a positive indicator of continued growth and strong performance in the fourth quarter of 2014 and beyond into 2015. In addition to the 11.8% year-over-year growth in total sales in the third quarter this year, median sales prices rose 2.5% compared to Q3 2013 and have risen 9.8% since the beginning of the year. Below are a few more highlights of the market’s performance this past quarter:
- Home sales totaled 1,719 this past quarter
- Average sales prices rose to $244,782
- Average days on market dropped 11.5% to 138 days
Have questions about the market or want to know what it means for your specific situation? At Nest, we are committed to providing buyers and sellers with the data and information they need to make confident, informed decisions. Contact a Nest agent to learn more about how the market is trending and what it means for you.
Want more market data? Be on the lookout for our 2014 Annual Report being released in January 2015.