Summary
November active listings are down 51% from 2019 and will remain low heading into 2021. Low inventory continues to be a leading driver in rising values, year-to-date average sale price is up 9% over last year. Competition among buyers looks to remain strong with new pendings still ahead of last year by 14% (slight seasonal drop of 3% month-over-month). While all price ranges remain competitive, none more so than homes priced between $150k-$250k with months supply of inventory only 0.6 months. First time home buyers may need to be aggressive to find a home before the end of 2020.
