Latest NWA Statistics!
This is one of those months there’s not really much to report. October was almost a rinse-and-repeat of September. Only 1 metric saw a double-digit change (negative or positive) from last month. Specifically, Months of Inventory (MOI) which increase from 5 to 6, but that’s not particularly interesting since MOI tends to increase a little going into the cooler months.
Total closed sales increase 32% from a year ago but that only accounted for a 1.3% increase in total sales dollars. Meaning, less “very expensive” homes are selling now compared to last year.
Each of the last 3 months have had +30% increases in active listings 12-month changes. However, the month-to-month changes are staying very similar (only 0.3% increase from last month), so I wouldn’t interpret the large 12-month increases as warning signs of a slowing market. In general, there are no major signs of a big market shift yet.
Other than noting, the Days on Market statistic is still not calculating correctly in the system, this wraps up the summery for the residential real estate market in NWA for October.