The seasonal slowdown was in full swing in November. When considering the past three months (Sept-Nov) we see a normal decline in Median Sales Price as well as Inventory. We also see the related increase in Average Days on Market since buyers and sellers are now caught up in the holiday season and some homes take a bit longer to find a buyer.
When comparing year-over-year single family homes we are seeing closed sales, inventory and new listings all down by more that 10% compared to this time last year. National economic trends are generally strong and mortgage rates at local banks are hovering around 3.75%.
If you are considering getting your home ready for the Spring market, now is the time to spruce things up a bit. Check out our advise for 5 Things to do Before Listing as well as our insights into investing in home improvements before you sell. Contact us today with any questions, we are always glad to help.
For more market data check out our blog category Real Estate Trends.
|Median Sales Price||$452K||$440K||$439K|
|Avg Days on Market||98||103||109|
|Avg % of Original Price||94%||94%||93%|