November 2022 Market Reports

Year to date: How is the market?

November sales numbers have been compiled and the average home price is up 12.08% over that of last year. Houses are taking a bit longer to sell (19 days on the market vs 15 days on the market last year) Remember for a lot of stats – these are AVERAGES – so each area, each development, each property will have its own trends. However, these numbers help us read into the market trends on a more macro level. What we see is that we are still in a seller’s market. 19 days on the market is still a FAST selling time. Inventory overall is still down – in fact there are almost 10% less houses on the market than this time last year….We have seen the interest rate affect some of the sales and yet the vast majority of deals continue to push through to closing. How will this affect your plans? Let’s talk!

You can view the report by clicking here.

Trackbacks/Pingbacks

  1. What Every Seller Should Know About Home Prices - December 12, 2022

    […] As the graph shows, it’s true home price growth has moderated in recent months (shown in green) as buyer demand has pulled back in response to higher mortgage rates. This is what the headlines are drawing attention to today. This is true on a NATIONAL level – as shown above and also a local level – as featured in the November numbers detailed here: https://johnricerealtor.com/year-to-date-how-is-the-market/ […]