According to the report, 1,828 single-family area homes were sold in December 2012. That’s 17 percent more than December 2011 and the most home sales in December since 2006.
Total dollar volume of single-family properties sold was $513 million, 35 percent higher than the same month last year.
The median price also increased to $210,000, which is 11 percent more than the same month in 2011. The market had 2.7 months of inventory, the city’s lowest inventory in the last decade.
The market also had 1 percent fewer new listings, 22 percent fewer active listings and 24 percent more pending sales in December 2012 compared with the previous year.
“With accelerating prices, stronger sales volume and more pending sales this month compared to December 2011, we’re encouraged that this steady momentum will continue into January 2013,” said ABoR Chairman Cathy Coneway.
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