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October market

October Market Update Oakland County 2021

The October market stats show a tighter inventory compared to 2020. There were fewer homes available to buy. There is a 17.89% decrease from October 2020 to October 2021. In addition, there were fewer sales this year than previously with a 20.18% decline.

 

On the other hand, the list-to-sale price ratio in October was a bit higher than last’s average with a 0.3% increase. The current average ratio sits at 100.0% which means that on average, sellers receive their full listing price.

The average number of days on market is shorter this year than in October 2020 with most homes staying on market for an average of 25 days. The market time has decreased by 21.87% compared to the previous year.

All in all, the current October market reflected shorter days on market, a slight increase in list-to-sale price ratio, and lower actives and sales compared to October 2020.

If you would like a current market analysis for your home, we will gladly pull one together and discuss it at your convenience & on your terms. Simply reach out here: Contact Us. 

If you are looking to sell, buy, or even if you need advice, reach out because we are always here.

Statistic Disclaimer: We’ve interpreted the current market data as reported by our Multiple Listing Service and CoreLogic.

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