Jalaj’s Market Update for November



Hi there folks, as we draw close to end of 2019, we are clearly seeing the prices pull away from the numbers we had seen in 2018 and 2017. This is more apparent when you look at month over month comparison, where you are going to see gain of 6% for the month of October compared to last year. At the same time the year to date numbers have shown us a gain of 5%. Well if you recall, I have been telling you for most part of 2019, there have been far lesser number of homes getting listed for sale compared to last year, and for the month of October, we saw a substantial drop of 29%. Along with that, the number of sales have consistently outperformed the numbers we had seen in 2018, with the exception of October, where we saw a slight dip of 7%. With total of 198 active listings, we have about 1.2 months of inventory on the market, and 76%  sold to new listing ratio definitely puts us in sellers market. I feel unless the inventory levels go up, we are going to continue to see the prices rise. Feel free to give me a call or message me with any of your questions.