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October 19, 2020 By R&R Team

October 2020 Real Estate Market Update

Numbers at a glance start with our lack of inventory that is down 43% from this time last year. In the month of September, single family homes were at 3,041 and townhomes and condos were at 2,260 for a total inventory of only 5,301! This has caused a year over year September average residential price that is up over 12% and a year to date average price that is up approximately 6%. Year to date, closings are up 1.6% which shows that this is mostly a demand issue and not a supply issue.  Scroll down to the bottom to see the numbers for the LUXURY MARKET as well.  And as always, let us know if we can help with any of your real estate questions. Have a great Halloween!

 

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