There’s Still Time to List in 2016

New listings coming on the market this past October fell short of market demand. Total inventory declined to 131 units this past Halloween, which was down from 155 a year earlier, and 156 at the end of September. Low inventory was largely a function of continued strong demand. 

New homes came on the market at a normal pace this fall, but shifted significantly earlier to late September from October. This may be attributable to home owners wanting to get into contract prior to the election.

That same political uncertainty has kept mortgage rates low, and seems to have possibly motivated some larger purchases, as evidenced by 8 of the 26 homes closed in October were sold for $900K+, and 2 of the 26 sold for $2.5M+. 

> Potential Sellers! <

Now may be an opportune time to list given short supply of homes on the market. I expect a short burst of activity between the election and Thanksgiving.

Questions about your best next move?

Let’s discuss.