WHAT WERE THE ACTUAL NUMBERS?

The total number of sales for November (the last complete month available), was 2,441, which was down 7.3% from November of 2013, not a surprise given the hot 2013 market.  The median price for all homes rose, however, to $585,000, an increase of 4.5%, right where we should be. The median price for single-family resale rose 4.9% to $640,000.  Condos saw the same percentile to $391,250.  There were sales of 1,508 for resale single-family, 631 condo sales and 302 new homes.  One of the key areas to watch for 2015 is new construction.  Expect much more inventory and brisk sales in that arena.  Foreclosures are at a nearly 10 year low with only 16,833 Notices of Default filed for the entire state, 3rd quarter of 2014, the lowest since the 2005 mark of 15,337.  In November, foreclosure resale's represented a mere 5% of the total number of sales.  Absentee buyers-- mostly investors -- bought 23.2% of the homes sold in November, and would include foreign buyers as well.  This is not an unhealthy number as owner occupied intent still drives this market.