Real Estate Market Numbers for
October.
Similar to last month’s update, the numbers continue to show a balanced market. Prices were stable throughout October with only a small decrease in detached homes. This is mostly due to people looking for more affordable options with the uncertainty of the interest rates.
As we move into November and December, typically inventory takes a dip this time of year. The way things are trending, we should see a continued balanced market or just maybe an ease back toward a seller’s market, at least until the rush of the spring inventory returns. It’s interesting and something to think about, the inventory we are seeing, the patience in both buyers and sellers and with the return of conditions, this market resembles the market of 2019. The pre-pandemic market, which to us, is a welcomed return.
As always, if you have any questions about this month’s market report or if you’re thinking of buying or selling, reach out! We’re always happy to help!
