Catskills Real Estate: November 2020 Market Report

Joseph Satto

01/1/21

November saw the Dow Jones top 30,000 for the first time, while mortgage rates reached new record lows again. Both of these milestones have provided encouragement for buyers to move forward on home purchases.  As compared to the same period last year, new listings were up 14.6 percent, existing inventory shrank 35.4 percent, median sales prices were up 27.7 percent and days on market decreased 33.7 percent.  Showing activity remains higher than the same period a year ago, reflecting strong buyer demand that is likely to continue into what is usually the slowest time of year. With inventory remaining constrained in most market segments, sellers continue to benefit from tight market conditions.

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