November's Real Estate News, Home Tips & More!
Explore the latest trends and forecasts for the real estate market as we head into the holiday season!
November Market Update
First off, for the week ending October 27, we saw 5,783 new contracts being signed—pretty impressive, right? Thanks to better affordability this fall, new contracts are up by 13.2% compared to the same week in 2023 and are even higher than 2022's numbers. It's a lively scene out there!
In the Bright MLS service area, showings have been on the rise for the second consecutive week. We hit 75,649 showings this week, which is 11.1% more than last year. In fact, showings have been consistently above 2023 levels for six weeks straight. Clearly, there's a lot of interest from buyers right now!
Even though mortgage rates have been climbing over the past four weeks, they remain more favorable than last fall. Plus, the healthier supply of homes is bolstering this buyer activity. It's a great time to be on the lookout!
Now, let's talk prices. For the week ending October 27, 8.7% of active listings saw a price decrease. This marks the third week in a row that the percentage has dropped, down by 0.5 percentage points from the previous week. Compared to last year, we're seeing a drop of 1.4 percentage points in price reductions. This suggests that more buyers are active in the market, and sellers are finding less need to lower their prices.
In a nutshell, our real estate market is buzzing with activity, and the outlook is positive for both buyers and sellers. If you're considering making a move, now might be the perfect time to dive in! We’re here to guide you every step of the way.
November Home Maintenance Checklist
Prep Pantry for Holiday Gatherings: Go through all the food in the cupboards, pantry, fridge, and freezer and toss any expired items
Check and Replace Weatherstripping: Inspect weatherstripping for damage or missing sections. Close the door or window; if light comes through, it needs replacement. If damaged, remove the old piece and install a new one, choosing the right type: adhesive foam tape, rubber, or vinyl.
Prevent Pipes from Freezing: As temperatures drop, disconnect outdoor hoses and store them for the season. Adjust shutoff valves for outdoor faucets in the fall to prevent freezing and pipe damage.
Dates To Remember & Celebrate
November shifts us from Halloween to the warmth of winter celebrations. As leaves fall and the air cools, we embrace gratitude and community, preparing for joyful gatherings with loved ones!
November 3rd, Daylight Savings Ends - “Fall Back”
November 5th, Election Day
November 11th, Veteran’s Day
November 28th, Thanksgiving
Seasonal Inspiration
Transforming Your Home: From Rustic Charm to Refined Elegance
In the world of real estate, the transformation of a property can be as thrilling as the journey of finding the perfect home. Inspired by the remarkable overhaul of a once-forlorn log cabin, let's explore how a home can go from rustic and rugged to a refined, welcoming sanctuary.
Imagine a home nestled in the woods, shrouded in mystery and nature's embrace. The appeal of such a place lies in its potential—a potential often hidden beneath layers of wear and time. Much like the log cabin makeover, your dream home may emerge from a thoughtful blend of existing charm and modern aesthetics.
Consider the transformation of spaces, where dark, somber interiors are reimagined with light, airy colors that breathe life into every nook. Maintaining elements like a stone fireplace can add warmth and character, providing a focal point that ties the old with the new. The key is balancing personal style with the home’s inherent possibilities, much like merging midcentury modern with Scandinavian simplicity.
As you embark on or continue your real estate journey, think about how you can bring your ideal cozy decor style to life. Whether it’s a sleek, minimalist approach or a warm, eclectic mix, the right touches can convert any space into a haven of comfort and sophistication!
Thinking about making a move? Or investing in a log cabin of your own? Let’s connect! Let your home tell your story, blending the rustic with the refined, and creating a space that truly reflects who you are.
Homebot Mobile App:
Enhance Your Real Estate Experience
It's your essential companion for homeownership
Have you tried the Homebot mobile app? It offers unique mobile features to help you make informed decisions and maximize your investment.
Homebot is an innovative mobile app designed to empower homeowners with the tools and insights needed to maximize their home's wealth potential.
With Homebot, users can easily track their home’s value, monitor equity growth, and receive personalized recommendations for refinancing, home improvements, and investment opportunities. The app provides a user-friendly dashboard that aggregates vital information, enabling homeowners to make informed financial decisions with confidence.
If you’ve already set up your Homebot account via email, find and download the app directly from the Apple or Android app stores.
In this case:
Use the same email address associated with your Homebot digest
Enter the 6-digit code sent to your email
Download the app now—it's an invaluable resource! If you have questions or need help getting started, email us at clientcare@redefined.realestate
