Market Report: October 2014

Highlight
With October Sales, 2014 year-t0-date (YTD) sales have passed 2013!

-Median sales prices are up significantly from 2014

The median days on the market has increased slightly from last year.  However, check out the YTD median days on the market a couple of slides down for some better news. 

-October brought YTD sales to 882 which compares to 866 from last year.  While this doesn't seem significant, 2014 started off slow due to the prolonged inclement weather.  The increase suggests that the market continues to recover and improve. 

The year-to-date median sales prices continue to climb!

Here we can see that the year-to-date median days on the market has significantly dropped over the past few years. It appears that 2014 will continue the downward trend. 

October didn't see a spike in listings.  However, their is not a deficit, and the number of houses for sale has not hindered sales. 

October contracts are significantly higher than last year.  This could indicate that 2014 will continue to see strong sales throughout the end of the year as many of these contracts will go to closing in November and December. 

The Annual pace of contracts is also higher than last year!  This data suggests that the housing market will continue it's upward trend.