As Christmas draws near, I wanted to share one last update for 2024 and wish you a joyful holiday season.
The housing market continues to show promise. Last week the 30-year fixed mortgage rate declined for the third consecutive week. This decline, combined with income growth and a bullish stock market, has boosted homebuyer demand in recent weeks.
Locally, we’re on track to see modest growth in our market. In 2023, 1,304 single-family homes were sold at an average price of $494,000. Year to date this year, we’ve closed 1,175 homes, with the average price rising to $535,500.
Wishing you all the joy and beauty of this season. Merry Christmas and a blessed New Year!