For your latest October market recap, I’ll compare all the key statistics with the same numbers from October 2018:
- The number of home sales dropped from 1,549 to 1,489
- The average sales price rose from $215,043 to $232,064
- The average days on market rose from 49 to 55 days
- The absorption rate stayed the same: 2.95 months
- The number of active listings dropped from 4,465 to 4,364
- Interest rates dropped from 4.5% to 3.8%
That last statistic is especially good news for buyers considering most experts predicted that interest rates would increase. If you’re a buyer, there are plenty of great mortgage programs to take advantage of.
Now, for today’s quote:
“Perfection is not attainable, but if we chase perfection, we can catch excellence.” - Vince Lombardi
As always, if you have any questions about our market or you’re thinking of buying or selling a home soon, don’t hesitate to reach out to me. I’d love to help you.