The following Real Estate statistics were collected by MLSOK, Inc., for the time frame November 1 through November 30, 2020.
Below summarizes our regions monthly sales activity. For a full review please see report that follows.
November saw the Dow Jones Industrial Average top 30,000 for the first time, while mortgage rates reached new record lows again. These new records have provided encouragement for buyers to move forward on home purchases, which continued to remain strong overall for the month.
New Listings increased 12.3 percent for Single Family homes and 4.5 percent for Townhouse-Condo homes. Pending Sales increased 26.9 percent for Single Family homes and 20.0 percent for Townhouse-Condo homes. Inventory decreased 35.2 percent for Single Family homes and 3.3 percent for Townhouse-Condo Homes.
Month’s Supply of Inventory decreased 44.0 percent for Single Family homes but remained flat for Townhouse-Condo homes.
Median Sales Price increased 14.8 percent to $207,500 for Single Family homes but decreased 8.9 percent to $112,000 for Townhouse-Condo homes.
Days on Market decreased 29.5 percent for Single Family homes and 35.7 percent for TownhouseCondo homes.
Showing activity remains higher than the same period a year ago across most of the country, suggesting that strong buyer demand is likely to continue into what is typically the slowest time of year. With inventory remaining constrained in most market segments, sellers continue to benefit from the tight market conditions.
If you are wondering how current national and global situations might be impacting your property’s value, your neighborhood, or the Real Estate market in general, we are happy to provide more specific information.
If there is a home that you would like more information about, if you are considering selling a property, or if you have questions about the housing market in your neighborhood, please reach out. We’re here to help.
