It's not as bad as it looks. The data is a little skewed - there are far fewer cheaper homes selling (nothing on the market), so the pricier ones pull up the average.
On a price-per-square-foot basis, listing prices “only” grew by 10.8%.
But it's not all bad news, because BUYERS, listen up! November/December is a great time to shop. Zero competition and motivated sellers. While they're visiting your family back east, you're getting a deal!
And here's the best home-buying tip I've ever gotten or given: Go see every single house. EVERY. SINGLE. HOUSE. Even the junky ones.
You will end up knowing more about the market than anyone, including most Realtors, and you might be shocked what listing agents forget to mention on the MLS (extra bedrooms, square footage, guest house, etc.).
My current home, I went to see for “research” after deciding it wasn't for us based on the pictures. Wrote an offer that day and we were in escrow before Lori had even seen it…
Lori wakes up every morning, makes a fancy coffee, and says “I love this house.” True story.
Check out the weekend open houses below. You know. For “research.”