How has the market changed since the all time high, single family home, average of $755000 was reached in August, 2022? Since then the market has dropped by -6% (Jan 2023-Oct 2023) and a total of -7.28% for October 2023. $710000 – $700000 has held steady since April 2023. We have seen small fluctuations in the average price in May and June 2023. This is good news. A stable market value is easier for both Buyers and Sellers to navigate. A Buyer does not want to “over pay” and the Seller wants to sell at the highest value. Pricing a home for sale is more important now in this market with only 66% of listed homes selling. Buyers are still paying on average 98% of the listing price.
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