GRAR Market Statistics – 2018 Year-End

 

The GRAR market area set a new record for the dollar volume of residential sales of $2.733 billion.

The year finished with a mean average price for residential properties of $225,221, also a record high.

When compared to 2017 the mean average rose $18.665 or 9.03%.

The median or middle prices residential property rose from $176,000 to $193,950.

This $17,950 increase represents a 10.20% increase in that average.

The potential concern is that six of the last 12 months has closed fewer transactions for that month than the average for that month.

This slower closing number was especially acute in December.

Plus four of the previously mentioned months were in the last half of 2018.

So the trend beginning from 2016 and continuing through 2018 of each year resulting in fewer closed sales would forecast that 2019 will probably produce fewer than 12,000 sales.

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