Despite November's market continuing at a slower pace and dropping compared to the all time highs of 2017, sales and inventory levels were on par with historical averages for this time of the year.
Detached homes sales under $1,500,000 were very good and offered Sellers a great opportunity to sell their home. We also saw an increase in sales for homes over $2,250,000 compared to October 2018. This increase will help the smaller detached home market and the town home market as these Sellers are usually looking to down size. Inventory levels are similar to November 2017 and about 10% lower than October 2018. This lower inventory level means less competition for current Sellers increasing your chances of selling.
Town homes under $800,000 were the most active with sales down about 9% from October 2018. The interesting point with town homes are prices have increased since November 2017. Condo sales are down 5.2% from October 2018 with pricing down 7.5% since November 2017.
Perhaps things are not as bad as the media says they are?