Price gains encourage new listing growth.
Price growth and tighter market conditions have encouraged some of the recent rise in new listings. This is a trend worth noting as the rise is easing some of the tightness in the market. Despite some movement, seller`s market conditions persist. While upward price pressure is expected to persist in the near term it is unlikely we will face the same spike seen in 2006. That`s because economic conditions are quite different today than they were in that time period.
The detached benchmark price for October is $468,000 an increase of 8.01% year-over-year. The apartment benchmark price is $276,100 an increase of 11.78% and the attached benchmark price is $302,200 an increase of 8.32%. Overall sales for the month totaled 1,953 units, compared with 1,659 during the same period last year.
Call Jeff Campbell 403-275-3331