“After a very healthy September and October, November sales activity took a noticeable dip. Monthly sales included just 24 transactions compared to the five-year average of 39, while dollar volume dropped to nearly half of what we typically see this time of year. On a cumulative basis for the 11 months ending November 30, 2023, there were 271 property transfers totaling $1.076 billion, a decline of 31 percent and 26 percent from 2022. Though single-family home sales were the lowest they’ve been since 2011, the value of the units sold, particularly at the high-end, contributed handsomely to year-to-date totals and the average home sale value.”

Here are Fisher’s November market insights from Jennifer Shalley Allen…