The National Association of Realtors’ most recent Existing Home Sales Report revealed that, compared to last year, #home sales are up dramatically in five of the six #price ranges they measure.
#Homes priced between $100-250K showed a 20.7% increase year-over-year. This is an impressive increase, showing that #November was an #excellent month for home sales in this price range.
But surprisingly, the 20.7% increase in sales in this range was not the highest percent change achieved, as sales of #homes over $250,000 increased by double-digit percentages with sales in the $750,000- $1 #million range showing the largest increase, up 43.2%!
As prices in many markets continue to accelerate, it is no surprise to see the percentage of homes in the higher price ranges increasing.
Here is the breakdown:
Homes under $100,000 were the only group to show negative appreciation of sales at -2.4%. This not only points to the lower inventory of #homes #available for sale in this price range but also speaks to the overall strength of the #housing market.
What does that mean to you if you are selling?
#Houses are definitely #selling. If your house has been on the market for any length of time and has not yet sold, perhaps it is time to sit down with your #agent to see if it is #priced appropriately to compete in today’s #market.
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