2018 Finishes With a Surge

Several high-dollar single-family home sales occurred in December, pushing the full-year transaction numbers above the most recent 5-year average. Total Dollars transacted equaled $537.5MM, a 13% drop from 2017, a reduction being attributed to the general tight supply of inventory. There were 499 closed transactions in 2018, a 19% drop from 2017, further supporting the conclusion that tight inventories are the primary explanation for the small retreat from last year’s records numbers.