November 2018 Real Estate Market Update

    We’re getting closer to the end of 2018. Here’s what you need to know about the current state of our real estate market.

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    We’re here today with your November 2018 market update. In October, we saw 49% of single-family homes sell with an average sale price of $439,096. That’s consistent with what we saw last month, but it’s down 18% over last year.

    This means the market remains strong for homebuyers as we head into the fourth quarter of the year and it’s a fantastic time to make a move. If you’re looking to get into your home before the holiday season begins, there are still a lot of great single-family homes, condos, and rural properties on and off the MLS.

    Duplex and row housing saw 39% of their properties sold in October with an average sale price of $345,800. This is down 13% over last month and down 32% from October 2017.

    For sellers, the market is still set up for a successful fall sale. In November, we often see buyers purchasing properties just to make sure they’re settled in before the holiday season.

     

    Pricing your property correctly can make all the difference.

     

    As we mentioned in our last market update video, pricing your property correctly can make all the difference. It often leads to a high volume of showings and a quick sale.

    In the condo market, we witnessed 43% of listed units sell in October for an average of $218,394. This is an increase of 3% from last month and down just 1% from this time last year.

    If you have any questions regarding the market or you’re looking to start the buying or selling process, don’t hesitate to give us a call or send us an email today. We look forward to hearing from you soon.

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