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Chesterfield Market Watch – December 2019

December 2019 was another great month for Chesterfield real estate. Buyers are out in droves and houses can fly off the market in hours. That’s if they are priced correctly. However, many houses are being overvalued by listing agents due to the “hot” market; those houses are sitting for long periods, going unnoticed, or not selling and having their listings expire. Although it’s a great time to be a seller, if you list your house for more than it’s worth you could be in trouble. Stop scanning Zillow and Realtor, contact The Chesterfield Connection to receive your free Home Value + consultation and get the guidance you need to be successful with your next sale. We will obtain the statistics you need to make a well planned decision, create a selling plan through my Home Value + system, keep stress to a minimum, and market your home to sell fast!

Due to a new statistics/data program, the statistics will be shown differently moving forward, enjoy!

The Average Sales Price was $309,672 in December 2019, up 5.2% from November 2019. The Average Sales Price was up 9.5% YoY compared to December 2018.

The number of New Listings were 388 in December 2019, down 19.8% from November 2019. Although this is furthering inventory scarcity, it is in line with normal seasonal decline. The number of New Listings were up 6.5% YoY compared to December 2018.

Homes for Sale in December 2019 were down 13.9% from November 2019. Homes for Sale were down 12.9% YoY compared to December 2018.

Pending Sales in December 2019 were down 29.1% from November 2019. Pending Sales were down 2.8% YoY compared to December 2018.

Closed Sales in December 2019 were up 2.7% from November 2019. Closed Sales were up 17.7% YoY compared to December 2018.

The Average Number of Days on Market was 41 days for December 2019, up 32.2% from November 2019. The Average Number of Days on Market was up 13.9% YoY compared to December 2018.

Months Supply of Homes for Sale took a nose dive to 1.8. This means if no new listings were added, that no homes would be available on the market in 1.8 months! This was down 14.2% from November 2019. Months Supply of Homes for Sale was down 18.1% YoY compared to December 2018.

The Average Percent of Last List Price was 97.8% in December 2019, up 0.9% from November 2019. The Average Percent of Last List Price was up 0.4% YoY compared to December 2018.

The Average Price Per Square Foot was $133 in December 2019, down 0.7% from November 2019. The Average Price Per Square Foot was up 2.3% YoY compared to December 2018.

Dollar Volume of Closed Sales was $160,100,519 in December 2019, up 7.2% from November 2019. Dollar Volume of Closed Sales was up 28.7% YoY from December 2018.

As always, statistics and data are a great tool to understand your market, but sometimes they don’t show the full scope of what is actually going on. If you have any questions, please contact me to discuss these statistics and learn how they can help you moving forward. Until next month!

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