Today I’ve got a market recap for you for November 2019. It’s very different than what we saw at this time last year, and here are the numbers that prove it:
- New listings are down from 8,630 last November to 7,738 this year—that’s an 11% decrease
- Active inventory is down 16.5% from 20,263 to 16,927
- Sold homes are up 7.3% from 6,639 to 7,130
- The months’ of inventory are down 23% from 3.05 to 2.37
What do we have? Well we have fewer homes coming on the market, fewer homes available for sale, and less inventory.
Obviously, this is a much hotter market than we saw at this time last year. Buyers are still buying properties quickly because interest rates have dropped again. In fact, a lot of buyers are moving up their 2020 purchase plans to 2019 to lock in those low rates. Right now, we have around 9,850 homes under contract in the Valley.
Right now, we’re in a great market if you’re thinking about making a move. You can sell high and lock in that low rate. If you have any questions for me or need help buying or selling, don’t hesitate to give me a call or send me an email. I look forward to hearing from you soon.