New Listings are at their lowest levels since February 2023 with only 3,129 new listings coming to market in the past month. Locally, home sales have been moving at about the same pace for a couple months. We had 2,794 new pending sales in November which has led to the growth of total active inventory at the end of the month, which came in at 8,490. This is an increase of almost 9.5% as compared to November 2023.
2) Average Days on Market has held steady:
Average Days on Market is continuing to hold relatively stable at 24 days.
The October average was revised down slightly, to 23 days on market since the time of our last writing. The growth of one additional day is probably insignificant to most. However, for our saavy buyer clients, every additional day on market provides a bit more of a leveling of the playing field between a Buyer’s and a Seller’s market. For those currently home shopping, we are finding opportunities that typically do not exist when homes are sold within the first hours or days of being listed. Those sellers that are on the market, want to make a deal and we are helping our clients take advantage of that sentiment.
Mortgage rates of course continue to be top of mind in our market. While the Federal Reserve has been cutting rates, mortgage rates have been a bit more volatile. We’ve seen rates that are fluctuating and even moving up as several different factors effect the price of a mortgage. Currently, well-qualified borrowers can expect to achieve a rate of about 6.3%.
Here's what Robyn & David B had to say about working with us:
“Jeremy is the absolute BEST realtor I have ever encountered in all of my years buying and selling various homes.
He is so knowledgeable, patient, thorough, diligent, well-organized, and works at lighting speed! He made the process of buying a home smooth and enjoyable for us (in a crazy sellers market!).
Jeremy is truly talented at what he does and that’s why he’s earned his keep as a high-volume agent in a super competitive market. He goes so above and beyond the typical level of service expectations and that’s what sets him apart from others.
He’s a wealth of knowledge and his tireless work is what ultimately found and secured our dream home! Highly recommend Jeremy!!!!.”
We aim to provide the highest level of service to our clients every day. Bringing you the expertise that you can rely on to confidently navigate the buying or selling process.
Thanks for trusting us with your dream home search!
Thank you for your support of Kaplan & Co. Jeremy & Emily
