Featured Blog Posts

November continued the trend we saw in October of strong sales volume with a 9.3% increase over November of 2023. However, we also saw supply of homes drop significantly down to 0.4 months of supply. It is not atypical to see a significant decrease in inventory during the holiday season, but this change is larger than we normally experience.

This shows a decrease in the number of sales of 89 homes or -5.4%. The median sale prices saw a 10.0% increase year-over-year. There are currently 182 homes on the market with an average marketing time of 98 days. This results in a 1.4-month supply of homes in inventory, which is a significant shortage relative to historical supply demand relationships in this market. Please note that the average marketing time of active listings is significantly above the average for closed sales in the prior 12 months.

This shows a decrease in the number of sales of 127 homes or -7.6%. The median sale prices saw a 12.7% increase year-over-year. There are currently 178 homes on the market with an average marketing time of 92 days. This results in a 0.9-month supply of homes in inventory, which is a significant shortage relative to historical supply demand relationships in this market. Please note that the average marketing time of active listings is significantly above the average for closed sales in the prior 12 months.

The most significant change to the market is the days on market for active listings is increasing significantly when compared to recent months. While this is typical for early fall market, as well as election years, it does mark a change. The decrease in interest rates will likely bring some additional buyers to market prior to winter as well.

The most significant change to the market is the day on market for active listings is increasing significantly when compared to recent months. While this is typical for early fall market, as well as election years, it does mark a change. The Federal Reserve’s recent announcement of plans to decrease interest rates in September could also be a contributing factor to the slow down in the current real estate inventory.