Year to Date - Newcastle Market Update
By Greg Lussier, Newcastlenulls Home Specialist
(Choice One Realty/Better Properties RE)
[Click Graph to Enlarge] Above: Green Line represents 2011 Avg. Sold Prices. Blue Line represents 2010 Avg. Sold Prices. We started the year below last years Average selling price for the month of Jan. We jumped up in Feb due to slow market activity where two of those six sales were Luxury Homes sold for above 1 million. March put us back closer to Jan 2011 Avg. Sales price. In July, There were a total of 3 large Luxury Homes sold which pushed the overall avg sold price for the area very high. Without these Luxury Sales the avg. sold price for July 2011 is $655,440. While sold prices has gone up for the month of July (due to peak summer season and more Luxury Home Sales), we still believe the market as a whole is still on a downward trend. As I had predicted back in July, home values ha...
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