A comparison of November’s housing market data to last year’s.

Today we’re sharing the latest market data from November 2022 and comparing it to the statistics from last year. Here are the changes we found:

The number of sold properties in November was 1,027. Last year, that was 1,579, so it decreased by 35%. The average sales price in November was $291,875. Last year, it was $286,041, so it increased by 2.04%. The average days on market this November was 30 days. Last year, it took 24 days to find a buyer. That’s an increase of 25%. The absorption rate is the rate at which it would take to deplete all of the inventory on the MLS. This November, the absorption rate was 1.67 months. Last year, it was 1.31 months. That’s an increase of 25.48%.

To find out about your best financing options, give our friends at Statewide Mortgage a call. If you have any other questions, don’t hesitate to reach out to us by phone or email. We’d love to be your real estate resource.