Updated: Nov 15
The most recent real estate market statistics are in from October 2023! Curious about what's going on in your local market? Below you will find some highlights, and a link to a full report of market activity from this past month. What is your home valued at in today's market? Get in touch and we'll provide you with a full custom home and local market assessment!
Key Market Metrics (Year-to-Date)
MEDIAN SOLD PRICE: $317,000
LIST-TO-SOLD PRICE RATIO: 102.1%
MEDIAN DAYS ON MARKET: 9
NEW LISTINGS: 115
SOLD LISTINGS: 101
*First three figures are year-to-date; number of new and sold listings are for October 2023.
Key Market Change Highlights
Since this time last year..
The median Sales price has increased nearly 10% year-to-date compared to this time last year - up from $289K last year to $317K this year.
Homes are still selling over list price, although at a slightly lower rate of 102.1% (compared to 102.8% YTD in October 2022). This key market change metric indicates there is still competition between buyers which is continuing to drive sales prices higher.
The Absorption Rate remains astonishingly low, hovering around 1 months' inventory. Absorption Rate is a measure of supply and demand, calculated by taking the number of homes sold in a month and dividing it by the number of homes on the market. For reference; in a normal market there should be an Absorption Rate of 6 months' inventory; lower than that indicates more competition among Buyers.
View the Whole Report Below
The property information herein is derived from various sources that may include, but not be limited to, county records and the Multiple Listing Service, and it may include approximations. Although the information is believed to be accurate, it is not warranted and you should not rely upon it without personal verification. ©2023 Coldwell Banker. All Rights Reserved. Coldwell Banker and the Coldwell Banker logos are trademarks of Coldwell Banker Real Estate LLC. The Coldwell Banker® System is comprised of company owned offices which are owned by a subsidiary of Anywhere Advisors LLC and franchised offices which are independently owned and operated. The Coldwell Banker System fully supports the principles of the Fair Housing Act and the Equal Opportunity Act.