New Listings were down 21.4 percent for single family homes and 27.7 percent for townhouse-condo properties. Under Contracts decreased 30.9 percent for single family homes and 39.1 percent for townhouse-condo properties.
The Median Sales Price was up 1.3 percent to $587,500 for single family homes and 4.8 percent to $410,000 for townhouse-condo properties. Days on Market increased 123.5 percent for single family homes and 94.1 percent for townhouse-condo properties.
With home sales down, nationwide housing inventory was at 3.3 months’ supply heading into November, up from 2.4 months from this time last year, according to the National Association of REALTORS®. Although buyers have more options to choose from, home prices remain high, and soaring borrowing costs have caused monthly payments to increase significantly, with the average homebuyer paying 77% more on their loan per month compared to the same period a year ago, according to Realtor.com.
Source: https://www.dmarealtors.com
