So a month ago I wrote: “October is really going to be ugly“. Unfortunately, it was. Sales were down 36% compared to October 2014 and 28.7% from last month. Because we had exceptionally strong home sales in October 2014, October 2015 looks REALLY bad however we actually logged in some respectable numbers when you look at Lake Norman’s October sales historically. (See annual sales chart below) . Our inventory of active listings is insanely low (10% below last year’s) which will also serve as another challenge to the rest of 2015 sales. If there is a silver lining it is that after October, our sales in 2014 dropped significantly so there is a chance we can pull out ahead of last year again in November and December. And, our year-to-date 2015 closed single family home sales are still 9% higher than 2014’s. After 9 straight months of increases over 2014, October broke our winning streak. However, things just may pick up based upon the numbers below. Let’s take a closer look:
* All data is from the Carolina Multiple Listing Service.
Some significant additional statistics for you: Continue reading