Existing Home Sales
Following almost 2 years of staggering increases in house prices, the average price for existing homes sold in the County during October 2021 was $777,000 compared with $662,000 a year earlier. This 17% increase was more in line with the historical increase in average prices of 12-15% per year. Inventory remained low by historical standards and homes continued to sell quickly with almost two-thirds selling for asking price or more.
New Home Sales
New home sales continued to grow as a percentage of overall sales in the County. New homes made up just over 20% of all MLS home sales during October 2021. Given the prospective new homes in the development pipeline, this trend to increasing new home sales is likely to continue in the future.