2012 Outpacing 2011 in MB

Posted by Dave Fratello on Friday, November 30th, 2012 at 2:42pm.

Here we are, closing out November, just a month till year end.

We took a look at sales volume year to date, and whaddaya know?

2012 has lurched ahead of 2011 with a month to go.

For SFRs in all of MB, we see 318 sales through Nov. 29.

That's a nice margin (+6%) over 301 for the same period in 2011.

For SFRs west of Sepulveda only, it's 223 SFR sales this year, 215 last year (+4% this year).

In each case, we're looking at MLS-reported sales. Yes, there's lots of off-market activity, but a good chunk of those sales do get reported on the MLS after the fact. (Like the off-market walkstreet sale Dave arranged.)

So if December sees a number of closed sales on pace with December 2011, we'll have a better year here than last. We see 20 closed sales (SFRs) in December last year citywide, and 11 west of the highway – figures we'd strongly expect to see exceeded this year, given the boost of motivation to sellers provided by (expected) higher capital gains taxes next year.

We'll skip median prices for now. An 11-month data set isn't going to be so much better than the one we can give you in about 5 weeks for the whole of 2012.

Remember that at the end of Q3, we saw a modest uptick of 1% in the year-over-year median price and a sales pace that was only roughly equal to 2011's. (See "End of Q3 Sales & Medians.")

Looks like this year's got momentum. Let's see how it finishes.
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