We should see inventory levels start to rise in January and most likely a large buyer pool to go with it. We have had a shortgage of inventory over the past two years and the large buyer pool helped to drive up prices, good news for sellers.
Hastings Single Family Home Sales
Sales
Unit sales in November were 6, unchanged from the same month last year. Sales/list price ratio in November moved down to 95.5% from 96.5% in October.
Prices
Median price in November was $855,000. This is up 5.9% from $807,500 in November of 2013. 3-month median price of $848,000 in November was up slightly from $785,500 in October and up a little from $737,438 in November of 2013. Price per square foot in November was $411. This is up from $352 in October but down from $444 in November of 2013.
Inventory
Inventory of 27 in November was down 6.9% from 29 in October but up 17.4% from 23 in November of 2013. New listings in November were 3, unchanged from the same month last year. Months of supply of 4.9 in November was down a little from 5.3 in October but up substantially from 3 in November of 2013.
Market Time
Days on market of 82 in November was up somewhat from 66 in October but down a little from 89 in November of 2013. This is the highest days on market has been since April, 2014.
