Now that October is over, we’ve aggregated all the data so we can take a look back and see exactly how the market’s been doing over the past few months.
An additional 19% new listings hit the market this October compared to October 2016. That continues the trend from September, where we saw 20% more listings than the previous year at the same time.
What is interesting about the difference between September and October is that there was a 30% uptick in new homes going under contract. This is a very healthy sign for our market.
When we see a rise in inventory levels such as the rise in new listings hitting the market, it always makes us want to watch the market very carefully. October came back roaring like a lion with that 30% upswing in homes going under contract.
This gives us great confidence going into the winter market. If you’re thinking about selling your home soon but were waiting to see what the market would do, these last numbers from October show us that the market right now is stronger than we thought it was. Now could be the right time for you to sell your home.
If you have any questions about the market or other real estate topics, feel free to reach out to us. We’d love to help you however we can.