The statistics for November are in. There were 55 sales of detached homes. That’s down from October’s total of 63 and last November’s total of 83. The Benchmark Price – that is, the price of an average home in an average area – declined 2.2% to $863,700, marking the first such decrease since July. Year-to-date sales total 777, a large increase over the 710 sales last year. Apartments and townhome sales thus far this year total 249, well up from the 186 sales this time last year. With the increasing popularity of attached homes and the decreased supply, we expect prices to rise. Land sales remained relatively steady in November, but the 193 sales year-to-date is significantly up from 143 this time last year. In spite of the decrease in supply, the price of vacant lots appears to be holding steady at the moment. We feel this may be due to uncertainty over rising construction costs. Are you thinking of selling? There’s never been a better time to market your home. Call US FIRST!

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