A Brief Update on What’s Happening in Real Estate
Welcome to the October 2021 Market Update.
Let’s take a look at residential activity in your area during the month of October.
The number of Active Listings was down 38% from one year earlier and down 9% from the previous month.
This smaller inventory means that buyers who waited to buy may have had a smaller selection to choose from.
As you can see the Median Listing Price for the month is $419,000. Compared to last year, the average days of units spent on the market before it got sold was down 23%. This lower number of days signal a positive trend in the local inventory turnover rate. The Median Sales Price was $346,000.
The Number of Units Sold decreased 1% year over year and decreased 7% month over month. Fewer sales could indicate opportunities for buyers to negotiate better terms.
Thanks for watching! We hope you found this video helpful to gather more information to make smart Real Estate decisions.
If you’d like more information and assistance, please email us at askdave@davefriedmanteam.com or call us at (843)936-1788.
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