Home sales in 2016 reached their highest levels in 8-years despite a slowdown in the month of December, according to the RE/MAX National Housing Report.
The median national sales price of $216,000 was 4.9% above one year ago and only 1.8% below November’s, while the average days a home was on the market was 53. In terms of sales volume, there were 6.1% more closed transactions in December 2016 than in December 2015.
The markets with the largest increase in sales volume included:
- Wilmington/Dover, DE +21.4%;
- Honolulu, HI +19.7%;
- Augusta, ME +16.1%;
- Las Vegas, NV +7.9%; and
- Providence, RI +7.3%.
The largest double-digit price increases were seen in:
- Birmingham, AL +17.1%;
- Tampa, FL +16.8%;
- Charlotte, NC +13.2%;
- Seattle, WA 12.9%; and
- Orlando, FL +12.3%.
The two metro areas (tie) with the lowest Days on Market were:
- Omaha, NE 36 days; and
- Denver, CO 36 days
The most Days on Market averages continued to be in
- Augusta, ME at 141 days; and
- Burlington, VT 101 days
The markets with the lowest Months Supply of Inventory continued to be in the West:
- San Francisco, CA at 1.2 months;
- Seattle, WA at 1.5 months; and
- Denver, CO at 1.6 months.