December is typically a slower month when it comes to home sales. With all the shopping, partying, and planning for the holidays that we all seem to take part in, it is not surprising that shopping for a house or condo gets put on hold. People also tend to hold off on listing their homes until the new year once everyone is back to work and school.
In the single family home market, there were 533 houses sold in the month of December which is down by 11.7% compared to this time last year. The average price of a house was $533,611 which was actually up slightly from November, but down by 3.1% when compared to December of 2014. It took an average of 47 days to sell a house in December.
For apartment style condos it took an average of 56 days to get the sold sticker on the sign, and there were only 151 condos sold, which is a decrease of 31.9% from December of 2014. The average price of $304,226 was down by 4.5% when compared to this time last year.
Hopefully the economy will bottom out in 2016 so that we can see the real estate market start to stabilize.
Here is our handy infographic with more details:
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