This week's market update will take a closer look at the sales data from the month of November by splitting out sales number and average sales price per square foot ($/SF) by the number of bedrooms of the house. Here are the results:
The number of sales in Nov 2020 was up for all categories of homes compared to Nov 2019, with big jumps for 2 bedroom and 5+ bedroom homes.
Average $/SF was essentially flat (+2.7%) for 5+ bedroom homes in Nov 2020 compared to Nov 2019
Three bedroom homes had a whopping +27.8% increase in average $/SF for Nov 2020 compared to the prior year.
Two average $/SF for two bedroom and four bedroom homes increased by 11.4% and 19.5%, respectively, in Nov 2020.
Median days on market were 10 in Nov 2019, but dropped to just 3 days on market in Nov 2020.
The price increases are substantial, but the most interesting thing for me is the days on market. It is surprising that one short year ago, it took 10 days or less for half of homes to go under contract. Please contact me if you have any questions at 513-830-8227 or email@example.com. I would be happy to discuss how I can save you money when you list a home with me and buy up at the same time.
This home was just listed earlier today, and is not likely to last long. It is a three bedroom home with two baths. The second floor was transformed into a master suite, and the kitchen was redone to a very high standard.