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Debating On Whether to Sell or Buy? This Is The Time!

November Statistics

The absorption rate went down slightly since last month. It was 47.6% in October and 44.7% in November. As a reminder, typically rates below 15% indicate a buyer's market and above 20% is a seller's market. While this is a seller's market, the interest rates are even lower than last month which makes it a great time to buy as well! If you are considering buying and will need a mortgage, I would highly recommend reaching out to a mortgage lender for prequalification. This way you will be prepared and have one up on other buyers.

In November total homes for sale was down 25.4% (73 homes) but the total sold was up 40.4% (23 homes). The number of pending sales was also up 50% (31 homes). The average sold amount was up 40.2% ($427k on average) but the average dollar per square was flat at 0.2% (on average of $758). The average days on market was down 17.1% (67 days this year at 80 last year). To get a better understanding of the right time to buy/sell, click here for a breakout by town.

Today's Rates (please check with your lender as these change regularly):

30 Yr FRM 2.80%

15 Yr FRM 2.38%

FHA 30 Year Fixed 2.33%

Jumbo 30 Year Fixed 3.14%

5/1 ARM 2.42%