The November average sales price for a single family home continued up from November 2022 (on a monthly basis), as did the median price, by over 12%! However, the overall average decreased slightly compared to the same time last year.
Condo prices went up on both a monthly comparison and for the over all year compared to one year ago.
New listings for SFRs were down compared to November of last year, showing the inventory crunch (a pattern found in just about all markets); but for condos new listings were up, but pending sales and closed sales were down from one year ago. And for both types of sales, the number of days on market are longer.
The good news is that the 30-year interest rate has recently decreased, which makes a difference on the buyer's prospective monthly payment! So we hope to see more of this in 2024.
For an estimated value of your property whether it's one, two, three or four units, please contact me. I can help you plan before you take any actual steps.
Julia Huntsman, REALTOR, Broker | http://www.abodes.realestate | 562-896-2609 | California Lic. #01188996
No comments:
Post a Comment