Our final quarter results of 2018 fell in step with historical trends in that overall sales dipped both in terms of the number of homes sold and the total sales volume. This trend holds true across markets across the United States year after year.
Interestingly, during what many residents and realtors have come to expect to be a slow selling period "The Holidays" in general, we saw five times as many homes enter into contracts during the fourth quarter (October - December) as did in the third quarter (July - September). Personally speaking, as a resident specialist in Royal Palm, I was busier than ever in December! Buyers were out, looking at homes - which few people do for sport during the holiday season.
During the same time-frame, there were ten closed sales in Royal Palm, which is more of a lagging indicator, reflecting contracts that were inked during the second and third quarters. The number of days on the market fell by 12% from 213 to 187 and the average price per square foot rose by 7% from 647 to 695.
Looking at inventory, we currently have a total of 73 active listings almost uniformly distributed over our three main property types: waterfront, golf and interior homes.
All signs point to a robust first quarter selling season in store for Royal Palm Yacht & Country Club.