Home Buyer's Blog

The market hit bottom during the summer and has begun a move in the positive direction, all be it at a slow pace. October was the first month this year that the number of transactions was up from the previous year and it was a healthy increase of 17.4%. November solds increased year over year by 40% to 581 Units. The median price has fallen almost 10% this year but inventory has also fallen steadily from the Spring and both numbers indicate the market is moving back toward equilibrium, although again at a very slow rate. The extension and expansion of the tax credit has clearly had a positive impact on the market and it’s probably safe to say that the numbers will continue to improve through the Winter and Spring.

November MLS Statistics November Solds 508 + 40 % Average Price $157,491 Median Price  $132,900        Year to Date Statistics YTD Solds 6,251 Down –16.8 % Average Price  $166,112 – 10.1 % Median Price   $139,900 – 9.4 %%