HAR Report: Days on Market (DOM), or the number of days it took the average home to sell, fell from 59 to 46. With fewer new listings entering the market, inventory registered a 2.2-months supply compared to 3.6 months a year earlier and is at historically low levels. It is also below the current national inventory level of 2.5 months recently reported by NAR.
Broken out by housing segment, November sales performed as follows:
$1 - $99,999: decreased 38.5 percent
$100,000 - $149,999: decreased 37.0 percent
$150,000 - $249,999: increased 7.4 percent
$250,000 - $499,999: increased 50.3 percent
$500,000 - $749,999: increased 72.2 percent
$750,000 and above: increased 88.4 percent
HAR also breaks out sales figures for existing single-family homes. Existing home sales totaled 6,378 in November, up 27.5 percent compared to the same month last year. The average sales price jumped 20.0 percent to $339,607 while the median sales price climbed 17.4 percent to $264,250.