Lets compare the end of October/beginning of November with mid October and see how the housing trend is headed.
Mid October New Listings = 58 vs Beginning of November = 50 (-8)
Mid October Back On Market = 15 vs Beginning of November = 11 (-4)
Mid October Price Reduced = 18 vs Beginning of November = 22 (+4)
Mid October Price Increased = 3 vs Beginning of November = 1 (-2)
Mid October Contingent = 7 vs Beginning of November = 3 (-4)
Mid October Expired = 1 vs Beginning of November = 12 (+11)
Mid October Pending = 134 vs Beginning of November = 109 (-25)
Mid October Sold = 109 vs Beginning of November = 134 (+25)
Mid October Canceled = 11 vs Beginning of November = 11 (same)
As you can see, the transaction trend is slowing down from previous reports. We’ve recently seen the “new listings” category with as many as 78 for a seven day period. Of course, one main reason for this downturn is the time of year we are approaching. As we head in to fall, and the holiday season in particular, we expect to see a downturn in activity.
Contrary to what many people think, this is actually a GREAT time to put your home on the market. The reasons? Here are two. The first reason is there is less competition for your home. The less homes on the market, the more buyers are zeroing in on your property. The second reason is that if people are looking to buy during this “slow” time, they are serious buyers. Most people aren’t “kicking tires” or visiting open houses for entertainment this time of year.
Now is a great time to see what your home value is by clicking HERE
If you are selling, you are probably buying as well. If so, keep ahead of the market by getting new listings emailed to you automatically by clicking HERE to sign up for our free new listing service.
Please contact me with any questions you may have, including a breakdown of activity in your specific area!
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