NVBR Market Reports are sponsored
by the North Country Federal Credit Union.
October continued to be busier than the calendar normally suggests. Buyer activity remains higher than normal for this time of year, while in many segments of the market housing supply remains much lower than one year ago. Multiple offers remain a common occurrence in many areas, keeping housing hot while the temperatures continue to fall.
New Listings decreased 0.9 percent for single-family homes and 25.6 percent for townhouse-condo properties. Pending Sales increased 15.7 percent for single-family homes but decreased 4.4 percent for townhouse-condo properties. Inventory decreased 47.5 percent for single-family homes and 51.1 percent for townhouse-condo properties.
The Median Sales Price was up 18.5 percent to $339,500 for single-family homes and 0.2 percent to $277,500 for townhouse-condo properties. Days on Market decreased 34.4 percent for single-family homes and 47.8 percent for townhouse-condo properties. Months Supply of Inventory decreased 48.8 percent for single-family homes and 54.5 percent for townhouse-condo
Mortgage rates dropped to new record lows again in October, helping to offset the monthly mortgage payment increases caused by the rise in home prices seen in many segments of the market across the country. While prices often dip a bit in the winter months, continued buyer demand may temper any price retreats this year.
Monthly Statistics by Town and County