According to NAR, prospective home buyers experienced another difficult month due to the persistent lack of inventory and the highest mortgage rates in a generation; however, multiple offers are still being seen. Just for perspective, in November, 15% of all sold listings in our MLS experienced multiple offers and 19% in October.
Other Good News
- 230 new listings were added during November
- Residential inventory was up 29 units versus October of this year, and up 13 units from November 2022.
- Corolla had the most residential homes sold in November at 21, and had the highest median sales price at $810,000, which was up $5,000 from October 2023
- Duck median sales price continued to increase and was up $69,950 to $799,950 compared to October of this year