November continued to slow in typical yearly fashion, and the numbers of homes sold are very similar to November of the previous year.
In November, 976 homes sold, compared to October with 1,026, yet still higher than November of 2016 with 940 sales.
Total sales of the $200-249k range were again the most active category, with 192 sales, just 5 lower than the previous month but 14 higher than November of the previous year. The second most active price range was the 250-299k Range, with 187 sales, the same as the previous month, and 39 higher than November of 2016.
Sales of luxury homes over 1 million were slightly lower than the previous month, with 27 sales, compared to October with 32. November of 2016 was also higher, with 30 sales. Sales of all luxury homes over $700k did take a significant drop from October. November saw 58 total sales, compared to 77 for October. November of 2016 also saw the same figure of 58 sales.
Homes are still selling at a high pace, although not like the summer months. 505 of the 976 homes, or 52%, sold within 30 days. 168, or 17% sold within 31-60 days.
Of all homes sold, 485, roughly 50%, were financed with Conventional financing, and 143, or 15% with FHA financing. 207, or 21% of homes were purchased with cash, and 70, or 7% were financed with VA financing.
Although the market has followed its typical cool off period for the winter, it is still as competitive as ever. Buyers should make sure their offers are as competitive and appealing as ever, and sellers should take care to make sure the home is showcased correctly.
Feel free to call me at 407.517.8693, or email at isellcflhomes@gmail.com.