October Monthly Market Indicators
New Listings were up 6.0 percent for single family homes and 29.5 percent for
townhouse-condo properties. Pending Sales landed at 221 for single family
homes and 92 for townhouse-condo properties.
The Median Sales Price was up 11.1 percent to $627,000 for single family homes but decreased 0.9 percent to $394,900 for townhouse-condo properties. Days on Market decreased 16.7 percent for single family homes but increased 2.0 percent for townhouse-condo properties.
Stock markets experienced an October setback, but that does not necessarily translate to a decline in the real estate market. The national unemployment rate has been below 4.0 percent for three straight months and during five of the last six months. This is exceptional news for industries related to real estate.
Meanwhile, homebuilder confidence remains positive, homeownership rates
have increased in the key under-35 buyer group and prices, though still rising,
have widely reduced the march toward record highs.