Market Statistics –November 2016

 

The story has remained consistent as concerns residential real estate. In year-over year comparisons, the number of homes for sale has been fewer in most communities. Meanwhile, homes are selling in fewer days and for higher prices. This hasn't always been the case, but it has occurred with enough regularity and for enough time to make it a trend for the entirety of 2016.

November 2016

Prior Year

Current Year

+/-

Average Sales Price

$158,691

$160,803

+1.3%

Median Sales Price

142,780

149,675

+4.8%

Inventory of Homes for Sale

1,458

1,292

-11.4%

Days on Market

173

168

-2.9%

Closed Sales

134

152

+13.4%

 

 

 

 

 

New Listings were up 8.2 percent to 198. Pending Sales increased 34.4 percent to 164. Inventory shrank 11.4 percent to 1,292 units. Prices moved higher as Median Sales Price was up 4.8 percent to $149,675. Days on Market decreased 2.9 percent to 168 days. Months Supply of Inventory was down 15.5 percent to 7.1 months, indicating that demand increased relative to supply.

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