Real Estate Market Update for
11732 (East Norwich, NY)
Welcome to November's Market Update. Let’s take a look at residential real-estate activity in your area during the month of October. The number of active listings was up 48% from one year earlier, and down 3% from the previous month. Even so, buyers still enjoyed a greater selection of homes today than they did one year ago. As you can see, the median listing price for the month was just under 690-thousand dollars. Compared to last year, the average number of days units spent on the market before being sold was down 61%. This lower number of days may signal a positive trend in the local inventory-turnover rate. The median sale price was just under 570-thousand dollars. The number of units sold decreased 33% year-over-year, and decreased 33% month-over-month. Fewer sales could indicate an opportunity for buyers to negotiate better terms. Thanks for watching. We hope you use this information to make smart, informed decisions in your upcoming real-estate transactions. Feel free to contact us for more information or further assistance.