November 2017 Market OverviewPosted by Christina Galbreath-Gonzalez on
The facts of residential real estate have remained consistent in 2017. In year-over-year comparisons, the number of homes for sale has been fewer in most locales, and homes have been selling in fewer days for higher prices. This hasn't always been true, but it has been a common enough storyline to make it an overarching trend for the year.
New Listings were up 23.7 percent to 480. Pending Sales increased 39.5 percent to 410. Inventory shrank 6.5 percent to 2,143 units. Prices moved higher as Median Sales Price was up 9.0 percent to $316,568. Days on Market decreased 5.2 percent to 147 days. Months Supply of Inventory was down 16.9 percent to 5.4 months, indicating that demand increased relative to supply.
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