A Look at Housing Stats
At the end of November, there were a total of 12,375 homes sold in the MFRMLS area. This number shows a 4.3 percent increase from the 11,861 homes sold in November of 2017, but we’re seeing a drop of 6.6 percent from the 13,245 homes sold last month.
The median sale price for homes in this area was $227,683. This amount shows an increase of 5.9 percent over the median sale price of $215,000 this time last year, and we’re also recording an increase of 2.1 percent from the $223,000 from last month.
What Does this Data Mean?
We entered the month of December with a total of 43,043 homes listed without an offer pending. This number shows an increase from the 37,448 active listings from November 2017 and an increase from the 41,070 recorded last month.
There are currently 13,883 pending listings on the market. This number is down 4.4 percent from the 14,523 recorded in November 2017, and we’re also seeing a drop of 11.8 percent from the 15,746 from last month.
What does this mean if you’re buying a house?
In November, there were 15,805 new listings added to the market. This number shows a 7.6 percent decrease from the 14,690 we saw last year, but there’s a drop of 10 percent from the 17,558 from last month.
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With the number of new listings showing a decrease this month, buyers may see even more competition when it comes to finding a home that fits their needs. For this reason, it’s a good idea to be signed up for email listing alerts that let you know when new homes come on the market that match your search criteria.
What does this mean if you’re selling a house?
The average length of time a home is staying on the market is around 53 days. Compared to last year’s average of 57 days, we can see that sellers are reaching the closing table in less days.
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Home sellers are currently receiving 94.9 percent of their original listing price, which is showing a slight drop from the 95.2 percent recorded this same time last year.
One of the keys to a successful sale is making sure that your asking price is set correctly, so you’ll want to get a home value estimate to help you. Afterward, you can contact me for a more comprehensive home value report that looks at the current market trends, upgrades you’ve made, and recently sold homes in the area.
Wondering what your home might be worth? Find out instantly with our 15-second home value calculator.