November 2019 proved to be another strong month in the Western Region, with the number of sales up year over year. Potentially due in part to buyers having adapted to the federal stress test, adjusting their housing expectations, and interest rates remaining low, there were plenty of buyers in the market resulting in a 5.8 % increase in sales with 147 sales reported this November vs 139 sales for the same period last year.

 

 

On a year-to-date basis, home sales in the Western Region numbered 1911, up 10.8 % over November 2018. Although the average sale price across the Western Region of $562,169 marked a 3.5% decrease year over year, it remained close to near record highs. New listings totaled 177 at the end of November vs 186 in November 2018, down 4.8% year over year. Active listings were up 6.3% over last November with 594 properties available vs 559 in November 2018. Months of Inventory was 4.0, with no change year over year. Strong, stable market conditions can be expected to continue into the new year, however tight supply and affordability are likely to be the challenge for many buyers.

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