What happened in November?
Both new listings and new listing dollar volume were down in November, a month typically slower for new listing activity. Only 31 new properties came onto the market last month, roughly one third of new listings seen in the high month of May. Total new listing dollar volume still topped $60 million in November as 4 new homes priced over $3 million hit the market, including two homes in excess of $10 million – a 4,000 square foot house and adjoining lot in Wilderness Ranches and a 6 bedroom home now under construction in Shooting Star. Helped by these higher end homes, the average listing price reached over $2 million in November, however the median listing price dropped under $1 million for the first time in the past 7 months. Only two new lots came onto the market in November, not surprising given the time of year - a 3.3 acre lot north of town listed for $825,000 and a unique half acre lot with Fish Creek frontage in Wilson, listed for $1.65 million. The majority (35%) of new November listings were in the $1-3 million price point, including a newly built home in downtown Wilson, listed for $1,785,000 and an oversized home in Melody Ranch, totaling nearly 4,700 square feet, listed at $2,350,000.