These are the latest numbers for the real estate market in our area?
Welcome to your market update for November. Today, we’ll be exploring some of the numbers from the last month and what they mean for our local market.
The active inventory stands at about 3,200 homes and is rising. This recent increase indicates a growing selection for buyers. Also, the median listing price for the month was $525,000, and the median sales price was $405,000.
Compared to last year, the average number of days on market has increased from 39 days to 46. This higher number of days may signal a slowdown in the inventory-turnover rate.
The number of units sold was up 15.7% year over year and was down 1.2% month over month. The year-over-year figure indicates that more buyers are finding what they’re looking for.
If you have any questions about the market or are looking to buy or sell, please reach out by phone call or email. We’d be happy to help you with your real estate needs.