Totals properties closed dropped in November by 2.3% putting us at a year to date decrease of 1.2%. Certainly nothing catastrophic. The average sales decreased by 5.8% due largely to the foreclosed properties flushing through the systems. Average Prices are off by 2.3% for the year again, nothing catastrophic. Million dollar properties sales in units were off by 26.8% for the month, but only 1.5% for the year. On the good news side of the numbers, listing inventory continues to decrease 1.5% in November with listings down nearly 3.4% for the year AND mortgage rates continue to drop fueling up the market. Over all, I'd say we are well positioned for a decent year in real estate for 2008. I'm glad you are part of the team!
As the year 2007 comes to a close. I would like to take a moment to thank you for remaining so focused and purposeful in all you do. It's been a challenging year and I commend each one of you for the tremendous, high quality job you do every day.
I wish you and your family a safe and joyous Holiday Season I look so forward to creating a brighter 2008 together.
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