Sales: In October, 916 homes and condos sold. That number is down from the 1042 that sold in September. It's also a slight decrease from the sales from the same time last year.
Inventory: In October, a total of 1341 homes and condos entered the market. That's a good amount of new inventory in what we consider to be a slower time of year. AND while I say that, we will likely see a decrease in new homes coming onto themarket over these next two months because a lot of sellers do not prefer to have their homes on the market over the holidays. I will say however, it is a smart idea to have your home on the market in months where most people do not. It means less competition and a better chance of a sale for you!
Sales Price: Overall we are seeing the average sales price continue to climb year to year. In October of last year, the average sales price for a single family detached home was just over $212,000. Last month, the average price climbed 2.7% to about $218,000. That is a positive trend for our market and great news for sellers.
If you're looking to buy, sell or invest in real estate, call me today at 505-238-3272 or email me at cheryl@cherylmarlow.com.
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