How to Read Your Local Market in November Using Real Sales Data

Quick answer: Look at recent closed sales in your town and price range, not county averages or national headlines. Four numbers tell most of the story: how many homes sold, how long they took, what they sold for compared to asking, and how many are for sale right now.

Why County Numbers Can Mislead

A county-wide median mixes many different kinds of homes in different towns and price ranges. A change in the median can come from a change in which homes happened to sell that month, not from a change in value. For a decision about your own home or purchase, a narrower set of sales is more useful.

The Four Numbers to Look At

Closed sales. How many homes like yours sold in the last 60 to 90 days in your town? A small number means you should treat any average with caution.

Days on market. How long did those homes take to go under contract? Compare the quick ones with the slow ones. What did the slow ones have in common?

Sale price compared to list price. Did homes sell above, at, or below their asking prices? This shows how much room buyers and sellers had to negotiate.

Active inventory. How many comparable homes are for sale today? Divide that by how many sell per month to estimate how many months of supply there are.

Where the Data Comes From

Your agent can pull these numbers from the MLS for your specific town, property type, and price range. Public market reports are also published by local brokerage and board of REALTORS sources. Check the date on any report and the area it covers before relying on it.

Questions Readers Ask

Is this a buyer’s market or a seller’s market? It can be different in different towns and price ranges at the same time. The four numbers above answer it for your situation.

How recent should the data be? For a pricing decision, sales from the last 60 days matter more than older ones.

Want a snapshot for your town and price range? Call me at (321) 447-4259 or visit movewithricky.com and I will pull the current numbers for you.

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Rakesh (Ricky) Khanna | Licensed Real Estate Salesperson
Better Homes and Gardens Real Estate Realty Connect
Call or text: (321) 447-4259 | movewithricky.com