The monthly local real estate stats are now available. I’d be happy to discuss them and answer any questions you may have:
HIGHLIGHTS
- October sales are up from last month and from last year with 712 units sold. Last month 683 units sold. Number of sales Y-O-Y was up 6.9%.
- Cash buyers represent 22% of all residential sales in our area, down from last month 23%.
- October average "days on market" is down from September with 65 days to, 64 Days.
- Average sold price is $364,278, this is down from the prior month and down 0.2% from October 2023 Y-O-Y, $364,985.
- October inventory is down month over month to: 3083 units, but up from October 2023, with 2505 units. Y-O-Y increase in inventory of 23%
- Months of inventory is 4.3 months, down from September 4.8 months, but up from October 2023 with 3.8 months inventory.
- Average List to Sold price difference in October was -2.4% down from -2.5 % in September.
- The inventory of homes has 4.3 months inventory, this level is considered a neutral market. Generally when Months Inventory is less than 4.0 months, it is considered a Seller’s market. 6.0 months or more is a Buyer's market. Between 4 and 6 months inventory is a neutral market.
