Real Estate Market Update for
55614 (Silver Bay, MN)
Welcome to November's Market Update,. Let’s take a look at residential real-estate activity in your area during the month of November. The number of active listings was down 90% from one year earlier, and down 91% from the previous month. This smaller inventory means that buyers who waited to buy may have had a smaller selection to choose from. As you can see, the median listing price for the month was just over 80-thousand dollars. Compared to last year, the average number of days units spent on the market before being sold was down 100%. This lower number of days may signal a positive trend in the local inventory-turnover rate. The number of units sold decreased 100% year-over-year, and decreased 100% 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.