Market Mood
October saw a neutral market. Not hot, not cold – just steady.
We are experiencing an uptick in curiosity and activity from would-be buyers and sellers, indicating an active start to the new year and equal competition among buyers and sellers.
Homes on Deck
Total listings dipped 5.9%, bringing the count to 2,994. October added 881 new listings to the market, a 1.7% increase year-over-year.
4.8 Months of Inventory
There’s a balance – not a clear edge for buyers or sellers.
Sales Pulse
578 homes sold in October, a slight increase from last month, but a slight decline year-over-year at 3.8%. Buyer activity was up significanly with 644 new contracts, a 28% incrase from last year.
Price Tag Trends
Average Sales Price is up 1.4% to $820,142
New Contracts Written: 644, ranging from $192,500 to $6,350,000
Median List Price U/C = $615,000
Average List Price U/C = $822,666
Average List Price: From $175,000 to $19,500,000
Median List Price = $649,950
Average List Price = $1,152,631
Buyer and Seller Clues
Homes took an average of 81 days to sell, stretching out by 15.7% compared to last month. The Average Sold Price to Original List Price Ratio is a steady 91%. Sellers are negotiating but have held firm at 90% to 91% for the last three months.
All in all, we’re in a balanced spot. The numbers hint at cautious buyers and steady sellers, keeping the market cruising without too much sway in either direction. We expect normal fall/winter activity, fewer listings, and fewer sales. We are working with many soon-to-be buyers and sellers, preparing to hit the January with force.
