Becky's Best Bungalow Bets for Dec 17, 2023: Short List + By The Numbers

Hello BBBB Friend,

In a delightful holiday surprise, interest rates dipped below 7% this week. To add to the festive cheer, the Federal Reserve decided not to increase the Fed funds rate and even hinted at the possibility of up to 3 rate cuts in the upcoming year. The Mortgage Bankers Association has recently forecasted that 30-year mortgage interest rates may reach 6% by the end of the next year. Looking ahead more optimistically, Mortgage News Daily suggests that mortgage rates could potentially dip below 5% next year if inflation continues on its current trajectory. ??

Today, I'm featuring 3 new listings.  Also I have a number of price reductions, new contracts and final sales to report for homes that are Still on My List. Click HERE  to see these changes.

BY THE NUMBERS FOR NOVEMBER 2023

• The median selling price for a single-family home in the Heights dipped by 4.7% to $732,500, compared to the previous year.  The average sales price for November was $856,448, a 13.7% decrease over the prior year but only 6.6% less than October 23.
• Homes are still taking longer to find buyers, with an average time on the market of 55 days. However, the median time on the market dropped to 17 days in November.
• The list-to-sale price ratio remains consistently strong, ranging between 99% and 100%.

Have a great week, and,

Let's look at houses or talk about selling yours!
Becky

CLICK HERE FOR THIS WEEKS BEST BUNGALOW BETS