The November Monthly Market Snapshot is out. Below is graphic and brief synopsis of what occurred:
‘Tis the season for motivated sellers! We experienced a little surge in activity, and serious buyers tend to look this time of year. However, many down-payment assistance programs have also reached an end to their available funds, thus reducing the total buyer pool. Remember, “pretty homes” sell faster and for more money…have your home in tip-top shape to secure the best offer(s) from potential buyers.
Average sales price has fluctuated over the past 4 months, but inventory remains lower than usual for this time of year. Interest rates remain stable. It is still considered a seller’s market, so you will often get a good price or good terms (concessions/contingencies), but rarely both. Be prepared to write your offer accordingly.