First a general overview. Through the first 9 months of 2012, unit MLS® sales across the region as reported by the Georgian Triangle Association of REALTORS® (GTAR) were up 8% with 1,520 sales through the 3rd quarter this year compared to 1,410 in 2011. MLS® dollar revenue through the 3rd quarter totals $443.1 million versus $417.8 million last year, an increase of 6%. The dollar revenue increase is lagging behind units sold due to the fact that we have and continue to see a softening of sales at the upper end of the market. Example: To date, there have been 3 sales over $1.5 million reported through our MLS® system, last year there were 6.
In my next posting I will examine sales by area and by price. For anyone contemplating a real estate transaction especially in an area such as ours, it has become increasingly important to obtain detailed information about your specific area, property type and or price range. We have several "micro-markets" in the area some of which are performing well, while others are not. Both Buyers and Sellers need to know the relative state-of-market for their specific circumstances in order to make informed decisions and providing that is one of our key roles as REALTORS®.