December is here, so it's time for an early look at November sales data for single family homes in Hamilton county. Here's what happened in November:
Overall sales were down 11% in Nov 2019 compared to Nov 2018. You'll remember that Oct 2019 sales were up 15% compared to Oct 2018. When you combine Oct & Nov, you see that sales in Oct & Nov of 2019 were up 2.1% compared to sales in Oct & Nov combined in 2018. This does diminish the importance of the increase observed in Oct, but does still indicate strong growth despite low inventory.
Median sales price was up 3.1% across all homes for Nov 2019 compared to Nov 2018. The median sales price increased in Nov 2019 vs Nov 2018 for all homes, regardless of the number of bedrooms.
Median price per square foot was up even higher, by 6.7%, for Nov 2019 compared to Nov 2018.
There were some interesting things in November for inventory, days on market, and 5+ bedroom houses that I'll relate over the next two weeks.
On November 27, Freddie Mac released it's
latest forecast of the housing market. They expect 30 year mortgage rates to stabilize at 3.8% in 2020 and continue at that rate through 2021. With rates unlikely to go lower, it's a great time to take advantage and refinance. This is great news for buyers as well.
If you are looking for a live tree this holiday season check out John T. Neiman Nursery. They have trees you can cut yourself and trees balled and wrapped in burlap for planting after their service indoors. They are worth the drive.
