While nearly 30 percent fewer single-family homes sold in September than in September 2011, average prices for homes gained more than 36 percent over last September. Average home prices are more than 5 percent ahead of last year's total and nearly 20 percent more homes have sold year-to-date. For the first three quarters of 2012, home prices have continued to be higher than last year. The inventory is declining more rapidly than in recent years and stands at 1,875 properties for sale this week.
2 ... months with average home price above $1 million to date in 2012
0 ... months with average home price above $1 million in 2011
4 ... most months above $1 million in history - 2009
Chuck Leathers is the broker/owner of Chuck Leathers Real Estate Co. He can be reached at (888) 485-2300 or email him at ChuckLeathers@Realtor.com.