Sales were up a nice 9% in October as compaired to October of last year. The average sales price increased 1% while the median sales price rose 10%. Sales continue the trend we have seam for a long time of being concentrated in the upper price ranges. Pending sales jumped up 27% so we can safely say the November will be a positive month. The number of new listings increased by 7% but with the large increase in pending sales the avtive listings declined 1%. The months of inventory now stands at 1.3 months. This is well short of the 6 months that is normally considered a balanced market.
Information provided by The Real Estate Center
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