Charleston SC Homes For Sale : November 2016 National Housing Trends

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Charleston SC Homes For Sale : November 2016 National Housing Trends

Charleston SC Homes For Sale : November 2016 National Housing Trends

Prices on Non-Distressed Properties Decline For Second Consecutive Month in October

Average prices on non-distressed properties declined for a second consecutive month in October as part of a typical seasonal slowdown, according to results from the latest Campbell/Inside Mortgage Finance HousingPulse Tracking Survey.
 
Non-distressed properties sold during October had an average price of $297,300, based on a three-month moving average. That was down 1.8% from the previous month and down a total of 4.1% from the average price of $310,000 in August. Prices in October were up by 3.4% percent compared with the average price for nondistressed
properties sold in October 2015.
 
While the decline in home prices nationally was part of a seasonal slowdown, in some areas, the typical decline in demand from homebuyers during the fall has resumed after years of relatively strong sales.  “Silicon Valley has had a hot seller’s market since 2013 and seems to have dropped off starting in about June,” said a real estate agent in California.
 
An agent in Florida attributed the decline in home prices to decreased demand from foreign homebuyers. Another agent in the state noted that the decline in demand from homebuyers has been concentrated on higher-priced homes.  “Homes priced over $350,000 are taking some time to sell,” the agent said.  “Homes priced under $300,000 are selling quickly and homes priced below $200,000 always seem to have multiple offers driving the price higher.”  Learn more about the November 2016 National Housing Trends here.

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