The Median Real Estate Sales Price of homes sold in November was $181,322, which is 1.4% higher than the price in October

November home sales were 8.1% higher than sales in November 2010, according to The RE/MAX Monthly Housing Report, a survey of housing data from 53 metropolitan areas.   November is the 5th consecutive month to show a year-over-year sales increase.  At the same time, the number of homes for sale, or inventory, continued to fall for the 17th straight month.  November home prices were 1.4% higher than October, making the 5th month in 2011 that prices have risen month-to-month.  However, home prices remained 4.2% lower than prices in November last year. 

"This market is trying hard to stabilize itself with home sales significantly stronger than one year ago, even though we are entering the holiday season when sales traditionally decline,"  said Margaret Kelly, CEO of RE/MAX, LLC.  "With sales trending higher and inventory falling, we would expect the result to be rebounding prices when we enter the stronger selling season next spring and summer." 

Median Real Estate Sales Price

The Median Real Estate Sales Price of homes sold in November was $181,322, which is 1.4% higher than the price in October.  During 2011 prices have risen in five months and declined in six, not demonstrating a clear trend in either direction.  Home Prices for November were 4.2% lower than what was seen in November 2010.  In this month's survey of 53 metro areas, 33 showed price increases from October, while  9 reported increases over November last year, including:  Orlando, FL +8.5%, Miami, FL +6.1%,Detroit, MI +5.9%,  Houston, TX +2.6%, and Denver, CO +2.3% .  

To view the complete stats by RE/MAX, go to RE/MAX November Housing Report



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Blog post written by the Dowell Taggart Team of RE/MAX Premier Realty 

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