October 2020
Monthly Snapshot
October continued to be busier than the calendar normally suggests. Buyer activity remains higher than normal for this time of year, while in many segments of the market housing supply remains much lower than one year ago. Multiple offers remain a common occurrence in many areas, keeping housing hot while the temperatures continue to fall.
• Single Family Closed Sales were up 34.3 percent to 9,685.
• Townhouse-Condo Closed Sales were up 36.3 percent to 2,891.
• Adult Communities Closed Sales were up 34.3 percent to 970.
• Single Family Median Sales Price increased 22.4 percent to $410,000.
• Townhouse-Condo Median Sales Price increased 10.7 percent to $299,000.
• Adult Communities Median Sales Price increased 13.6 percent to $250,000.
Mortgage rates dropped to new record lows again in October, helping to offset the monthly mortgage payment increases caused by the rise in home prices seen in many segments of the market across the country. While prices often dip a bit in the winter months, continued buyer demand may temper any price retreats this year.