Market Report: October 2016

If you haven't been paying attention to the local market this year, sales have been excellent.  The only thing that has been lacking has been the inventory.  While looking over the sales for October, it would appear that sales are cooling down for the year as we saw a 10% drop in sales when comparing October sales of 2015.  However, if you look at the number of contracts in October, you will see a 25% increase over October of 2015.   This will likely indicate strong sales in November and possibly December. 

Highlights:

• ​The number of new contracts in October 2016 is up 25% when compared to October 2015.
• Inventory is down 25% when comparing October 2016 to October 2015.
• The median sales price is 5% higher when comparing October 2016 to October 2015.