According to our latest market statistics, there are more homes for sale and fewer buyers out there.
Looking to buy a home? Click here to search the MLS
Looking to sell a home? Click here to get a home value report
What’s the latest news from our market?
Now that we’re into November, the biggest story is inventory, which has risen 13% compared to this time last year. The number of sold properties, meanwhile, has decreased 17% compared to last year.
When you really look at the numbers, multi-unit properties have been the hardest-hit—their inventory is up 37% compared to this time last year (and almost 80% compared to the beginning of 2018). The number of sold multi-units properties is also down 10%.
What does this all mean? There are more homes for sell and fewer buyers out looking to buy. One of the primary reasons behind these trends is rising interest rates.
There are still plenty of deals out there to be made, though, so whether you’re thinking of buying or selling or you have any other questions about our market, don’t hesitate to reach out to me. I’d be happy to help you.