Well sales really took of in November as compared to the same time last year. They shot up 26%! The average sales price rose 12% while the median sales price increased 15%. As long as there is an extreme shortage of homes on the market coupled with the builders not being able to ramp up production, we will continue to see prices increase. Pending sales increased 3%. The number of new listings climbed 6% but with the huge sales number taking most of the increase off the market, the active listings fell 3%. The months of inventory now stands at 2.1 months. With 6 months considered a balanced supply/demand we are very much tilted to the sellers side!
Sales: 7,877
Average Sales Price: $285,881
Median Sales Price: $230,000
Pending Sales: 7,534
New Listings: 8,170
Active Listings: 18,17
Months of Inventory: 2.1
Information provided by The Real Estate Center
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