What You Need to Know about the November Housing Numbers
The highlights from the latest housing report from the National Association of Realtors.
Season’s greetings! As the temperatures begin to get chilly and the holidays are just around the corner, it’s officially wintertime. With only a few more days left in 2014, the National Association of Realtors (NAR) released its November existing-home sales report. Total existing-home sales totaled 4.93 million in November 2014, above last year’s November number by 2.1 percent.
November also marked the highest percent of first-time buyers (31 percent) since October 2012. And while properties stayed on the market in November longer (65 days) than October (63 days), 32 percent of homes sold in November were on the market for less than a month!
The median existing-home price for November was $205,300, which marked the 33rd consecutive month of year-over-year price gains.
Below is a breakdown of the median price of homes sold in each region of the country during this past November. As we say goodbye to 2014, check out these on-the-market listings, perfect for new beginnings in the New Year!
Northeast median sales price: $246,100
- 6 Clare Lane in Raymond, ME
- $246,900 for a 3 bedroom, 2 bath home (2,328 sq. ft.)
Midwest median sales price: $160,500
- 105 Chaise Lane in Arthur, IL
- $175,000 for a 3 bedroom, 2 bath home (1,840 sq. ft.)
South median sales price: $176,500
- 3803 Pebble Beach in Cibolo, TX
- $200,000 for a 3 bedroom, 2 bath home (2,431 sq. ft.)
West median sales price: $292,700
- 3424 E. 5th St. in Tucson, AZ
- $300,000 for a 4 bedroom, 3 bath home (3,313 sq. ft.)
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