“Our closed sales volume was $1,234,000,000 through September 30, 2017,” said Mike Hughes, General Manager for Downing-Frye Realty, Inc. “I am pleased to report that the Downing-Frye numbers look pretty good for October. Keep in mind that many of the September closings were delayed due to the hurricane, so they closed in October. We have also seen a number of new listings, which can be typical for this time of year. Our strong inventory going into the winter season should accommodate the expected buyer demand. Our part-time residents are already returning en masse, an indication that the busy season is upon us.”
Despite a direct hit by a major hurricane, overall closed sales for the third quarter increased 3 percent (year over year). The storm’s short-term impact on the housing market in September only tempered sales slightly in the third quarter by 5 percent (quarter over quarter), which translated to just 86 fewer closed sales than in the third quarter of 2016. However, year-to-date numbers tell a different story as activity in pending, closed, and median price categories were up year over year at the end of the quarter.