Here are the latest numbers and trends from our real estate market.

Today we’re discussing our November 2021 real estate market, and these numbers are very interesting:

13,871 active homes are currently on the market compared to 16,363 in November 2020. That’s a 14.3% decrease. 

8,666 new listings currently on the market compared to 8,363 in November 2020. That’s an increase of 3.6%.

8,971 homes sold this November compared to 9,176 in November 2020. That’s a 2.3% decrease. 

Our months’ supply of inventory fell from 1.78 months in November 2020 to 1.55 months this November. That’s a 14% decrease.

These stats show that we have almost 15% fewer homes for sale than last year at this time. Sales having decreased a little isn’t bad when you consider the fact that buyers have that much less to choose from, and they’re waiting for the right home to show up. We’re still in a seller’s market; it’s cooled off since March, but it’s starting to show a bit of a rebound. Interest rates have climbed a little, but not enough to slow the market. January, February, and March are when many sellers put their homes on the market, so it’ll be interesting to see what our inventory is like after the New Year. 

If you’re considering buying or selling a home, please give us a call at (602) 738-9943 or send an email to jason@thepenroseteam.com. I would love to be your real estate resource.