October, typically, is our transition month in the local market area where the real estate activity begins to cool off and peoples' attentions become more focused on preparations for the upcoming holiday season and preparing their homes for the colder winter months. This year is no different in this regard. After experiencing consecutive months in positive trending in sales volume growth, October's numbers reveal the beginning of that seasonal decline in activity.
After September posted the highest monthly sales volume for the calendar year, 2011 with new pending sales notched at 159 properties, October settles back at a more typical monthly sales volume with 138 new residential properties going under agreement. That represents a 13.208% decrease in total sales volume, month to month.
Additionally, pending sales data for the month of October 2011 indicated a 0.705% increase in the median sale price recorded at $199,900. yet a 4.019% decrease in the mean sale price that was tallied at $237,780.
These sales statistics cover the towns of Dartmouth, Fall River, Little Compton, RI, Somerset, Swansea, Tiverton, RI, and Westport. They reveal monthly activity for residential properties that went under agreement from 10/01/2011 through to 10/31/2011 in our local market area as serviced by the H3MLS-Property Information Network.
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