November Sales Update for McCormick Ranch

As we move towards the end of the year, the McCormick Ranch real estate market is telling a very similar story to the previous few months.

Inventory is low with just 65 active and available homes. We've seen this level of 60ish homes available now for since September.

The number of home sales for October is slightly higher than last year (38 vs 33).

Interest rates have remained close to historic lows.

Yet, prices have remained fairly flat over the past few months. The dip that we see is likely based off of a handful of $1M+ homes dropping off from Spring versus a true drop in the market.

Looking at the data, I'm expecting a very busy Spring season. The price changes will vary based on how much supply comes to market. Based on the prior years, we do see lots of new homes come up for sale. But there also tend to be many new home buyers looking to make their move.

When we are already starting with low inventory, I believe we will see bidding wars, multiple offer scenarios, and pressure to raise prices.