DMAR Real Estate Market Trends Report:
Year-over-year average price of homes sold is up 9.96 percent to $398,588. However, the number of homes sold in October dropped 11.43 percent compared to last year, and the pace of new listings coming onto the market is slow with 9.87 percent fewer homes year over year. Notably, 2016 represents a new record low in listings for October with 6,731, compared to the previous low record in 2014 with 6,748 listings. From 1985 to 2015, average active listings for October is 16,615. For comparison, the record high October was 2006 with 29,722 listings.