Strong November sales activity extended 2019’s year-to-date lead in contracts signed to about 3% ahead of 2018 totals. There were 699 single-family deals negotiated during the month, which was 4% higher than last November, and continued the consistent 2019 performance visible in the chart above.
The number of active listings fell significantly since the last report. There are currently 2,296 properties available for buyers to consider, about 300 (11%) fewer than last year at this time. Buyers have been dealing with lower inventory throughout this year, and November’s decrease in actives is typical for the month. That said, low inventory in some towns likely is preventing more sales.
We expect the real estate market to continue to be active through the holiday season, though at a lower level than other times of the year. The chart at the top shows that over the past two years the lowest activity level occurred in December, but there were still 500 contracts in both of the Decembers shown. Thousands of homes are available, and hundreds of buyers will be considering them.
This is also a good time to begin planning for the spring. What are your real estate goals? We can help!