Happy New Year to you all! I wish you all the best in 2020. Now that January is here, we can review sales activity in December 2019 for single family homes in Hamilton County. Here are the main points:
- December 2019 sales were up 2.7% compared to Dec 2018 (715 vs 696).
- Median sales price for all homes was up 10.2% ($151,575 vs $167,000).
- Median sales price per square foot for all homes was up 15.4% ($91.21 vs $105.26)
- Overall median days on market (DOM) was down to 13 from 18 in Dec 2018.
- However, 2 bedroom homes posted the second consecutive month of increasing DOM. Median DOM was 21 in Dec 2019 vs 15 in Dec 2018. The Median DOM for other homes decreased from 4 to 16 days in Dec 2019 vs Dec 2018.
The key takeaways are that prices continue to increase but there are early signals that 2 bedroom homes are falling out of favor with home buyers relative to 3 bedroom homes. I will be watching this closely as we head into 2020. In the coming weeks, I'll be reviewing data from the entire year compared to 2018 and diving deep into different parts of Hamilton County.