November held steady for the Greater Owensboro REALTOR Association, continuing a successful year for the local housing market. The average days on market dropped while total sales volume and average sold price showed significant increases compared to a year ago.
In November, 116 homes were sold with 156 sales pending. Days on market dropped from last month’s 70 days to 57 days, while November 2019 was 80 days.
“We continue to see a strong market with low mortgage interest rates,” said Karen Gross, GO REALTORS President. “A significant decrease in days on market indicates that houses are quickly under contract once hitting the market. As REALTORS, we properly prepare buyers for this scenario.”
The average sold price for November was $182,635, an increase of 21% over 2019 ($150,931). Sales volume for the month was $25.3 million, up 45% from 2019 ($17.5 million).
“The local real estate market is heading toward a strong finish to 2020,” said Jason Bellamy, President-elect of GO REALTORS. ”It has been great to see our REALTORS and affiliate members join together to make sure clients’ housing needs are being met. Through innovation and updating some aspects of the process, business has continued to thrive and be safely conducted, even through the pandemic.”
