Quick look at City and County Market Trends Reports featuring October data
New Listings were down 7.9 percent for single family homes and 17.1 percent for townhouse-condo properties. Under Contracts increased 4.8 percent for single family homes and 2.7 percent for townhouse-condo properties. The Median Sales Price was up 15.3 percent to $560,000 for single family homes and 12.1 percent to $385,000 for townhouse-condo properties. Days on Market decreased 35.3 percent for single family homes and 38.2 percent for townhouse-condo properties. As temperatures drop, existing home sales continue to be plentiful, buoyed by strong demand, low interest rates, and a slight uptick in new listings in recent months, according to the National Association of REALTORS®. With interest rates inching upward, and experts expecting further rate increases on the horizon, motivated buyers are hoping to lock in their home purchases to take advantage of what are still historically low rates.