North Shore | Real Estate Market Update | November 2022

The market data for our November market report showed mostly similar statistics as 2021, with average sales price only 2% lower, days to offer still at about 20 days, and the average sales to list price ratio remained at 103, showing that homes are still selling quickly and over asking price. Of note is the number of homes sold decreased 34% and the number of new listings also decreased 25%. This may be why, for some, it seems the market is slowing down. There are fewer listings coming on and fewer being sold compared to a year ago. This continuously low inventory, however, is a big part of what is keeping our prices high and selling quickly.