As is usual, the holiday time tends to be slower than usual in the Real Estate market. As of November, the amount of homes on the market decreased over 20% to numbers that we last saw in 2004. This may not seem like the best news, however, the sellers that are currently listed in the market are seeing an upside to lower inventory. Purchase agreements signed during this time are up a little bit more than 30% over the same time last year. While the median asking price has decreased a little bit, sellers, on average, are finding that they are able to take offers that are 90% of the listed price. This is really exciting because this is the fourth consecutive month that this figure has risen!
As I have mentioned before, selling during the holidays can be a challenge, but buyers are motivated and there is generally less competition among current listings.
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