As the leaves fall November single-family home sales continue as listing drop slightly.
Source: Shutterstock_751155649
The overview below shows real estate activity from January 2022 to November 2022. You will see data comparisons between November and the previous month, the last three months, and November 2021.
The number of new listings in November 2022 was 1,383, down -29.62% from 1,965 from the previous month and -26.94% lower than 1,893 from November 2021. The November 2022 listings were at their lowest level compared to November 2021 and 2020.
New Listings
The number of properties sold in November 2022 was 1,416, down -11.83% from 1,606 from the previous month and -32.22% lower than 2,089 from November 2021. The November 2022 sales were at their lowest level compared to November 2021 and 2020. The absorption rate is the avg number of sales per month divided by the total number of available properties.
Property Sales & Absorption Rate
The median sales price in November 2022 was $259,000, up 1.27% from $255,750 from the previous month and 3.64% higher than $249,900 from November 2021. The November 2022 median sales price was at its highest level compared to November 2021 and 2020. The average sales price in November 2022 was $301,607, down -1.36% from $305,763 from the previous month and 3.67% higher than $290,938 from November 2021. The November 2022 average sale price was at its highest level compared to November 2021 and 2020.
Average & Median Sale Prices
The average days on market (DOM) is the number of days a property is on the market before it sells. An upward trend in DOM tends to indicate a move toward a buyer's market, and a downward trend tends to indicate a move toward a seller's market. The DOM for November 2022 was 21 days, up 5.00% from 20 days from the previous month and 10.53% higher than 19 days from November 2021. The November 2022 DOM was at a mid-level compared with November 2021 and 2020.
Days on Market
The fall months have more homes on the market and pricing is becoming a critical element as real estate becomes more balanced between buyers and sellers.
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Activity by county according to MLS.
The timeframe is from 12/6/2021 through 12/6 /2022:
The market continues to change. For in-depth reports on sale prices in your neighborhood-send a request for a full market evaluation. Anything else - Call/Txt
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