This November there were 453 homes sold through MLS® which is a 43.7 percent decrease from November 2021 and a decrease of 34.2 percent from the previous 5-year average for the month. The average number of days on the market this month was 21, compared to 10 days in November 2021. The total number of homes available for sale in active status at the end of November was 860, an increase of 209.4 percent compared to November of last year, and 29.9 percent below the previous ten-year average of 1227 listings for the month.  “It has never been more important for both buyers and sellers to work with a REALTOR® to help provide expertise during the homebuying and selling process. Affordability, combined with ongoing supply constraints, are making it difficult for buyers to navigate the continuous market changes while sellers are also having to adjust in concurrence with the evolving circumstances” says Megan Bell, president of WRAR.

If you have any questions about the momentum of the market or if you require specific information about a property, please contact me today.

Read the full article about the October market stats here!