More Listings For Home Buyers in November 2017

• RAHB reported 1096 sales were processed through the RAHB MLS System in November, 16.7% fewer than the same month last year
• All property listings were 8.7% higher than the same month last year, 18.9% higher than the 10 year average
• Seasonally adjusted numbers of new listings were 15.6% higher than November 2016
• The average number of days on market increased to 37 days from 25 days in the freehold market and increased to 36 days from 26 days in the condominium market

"We continue to see a healthy number of listings coming onto the real estate market, which is a welcome relief from the low inventory earlier this year," said RAHB CEO George O'Neill. "Although sales are down compared to last year, they are still higher than average, which means there are also still lots of buyers."
 
"Now that we are going into the year-end holiday season, we expect to see a bit of a lull - that is the traditional rhythm of the real estate market," noted O'Neill. "We continue to urge buyers and sellers to contact a Realtor to learn more about new mortgage guidelines coming into effect on January 1st, 2018 - the new guidelines may affect their purchase or sale."
 
If you have any questions, or concerns, about today's market, please feel free to contact me today!
 
Mike Mossuto
 Real Estate Sales Representative
 Keller Williams Complete Realty