Where Is The Fall Market?

Where is the fall market?  That is the question you are probably asking, and the one we are asking as well.  It is normal to have a "shoulder season" between the end of summer and the beginning of fall, but the showing activity, contract activity, and even the phones in the office have been very quiet.  We are hoping to see that change soon!  On a positive note, we have several buyers coming into town in the next week, and if this is true for other Realtors® in the County, it may point to the beginning of the fall market.

In the chart below, you will see the history of residential and commercial sales since 2005, and a comparison between 2013 and 2014  statistics (January 1-September 15).  There is also a comparison of the three real estate segments, 1) Residential, 2) Land, and 3) Commercial.  Within those three segments, we note the strength of the market in the residential segment. Approximately 81% of the total transactions in the past year have occurred in the residential market. Nearly 87% of the total market volume has also occurred in the residential market. We also see a current growth in the commercial segment thus far in 2014 (compared to January 1-September 15, 2013); however, commercial median prices tend to be more driven on the mix of properties sold.

When we look at previous years, we see the steady increase year over year through 2013. Since 2009, the total number of transactions has steadily increased. As we have reported, the market has clearly leveled off, and dropped a little, but it remains a strong market. 

The fall is a time for harvesting, and we hope to see this real estate market continue to be robust, and provide the means for our clients to be successful with their plans.  It should also be noted that it is common for a few of the more expensive homes and properties to sell in the fall, as the profile of the fall buyer tends to be more to the "baby boomers", with grown children, and some have a higher capacity to purchase.