Time for this months stats:
*Stats as of November 30, 2018
The great news is, listings are coming off the market as we slide into the winter months. Buyers are hesitant to move with all this snow on the ground, but there are still those coming and going even in the coldest of months. Read more to find out exactly where we are sitting now.
Decreased year over year by -2.65% and up 0.50% from last month.
Residential single family dwellings with an average selling price of $421,715 have decreased -4.55% from last year and decreased 0.97% from last month.
Condo dwellings, continuing on a downward trend, and it has been a very long downward trend, dropping 6.07% from last year to $218,443 and decreased 1.29% from last month.
Rowhouses and Duplexes are sitting at an average of $346,909 Decreased -3.36% from last year and up 4.11% from last month.
Single Family – $2,000,000
Condos – $680,417
Duplex/Rowhouse – $770,000
Single Family: 66 Days, up 7 from last year
Condos: 80 Days, up 4 from last year
Duplex/Rowhouse: 71 Days, up 12 from last year.
2,063 new listings for a total of 7,741 listings on market, an increase year over year of 9.86% and -2.00% less than last month.
1,042 sales – which shows 7.43 Months of inventory on market, definitely a buyers market. This stat is also known as Market Absorption Rate. You have a 13% chance of selling your home in todays’ market.
14,794 Year to Date Sales, for a year over year decrease of -4.73%
Price your homes right. It still matters and your first 10 days on market is the most important time to your sale. Don’t chance chasing the market in a downwards trend.