STAR Housing Stats | November 2023

The STAR November 2023 Stats are now available for you to review and/or share. The images below represent a Single-Family & TownHome Listing Analysis of Stark, Trumbull, & Carroll Counties.

According to the Monthly Indicator Report published by MLS Now, December 21, 2023.

"November 2023 Low inventory, elevated sales prices, and decades-high interest rates continue to weigh on the housing market, causing sales of existing homes to fall to their slowest pace since August 2010. According to the National Association of REALTORS® (NAR), U.S. existing-home sales declined 4.1% month-over-month and 14.6% year-over-year as of last measure, as prospective buyers, faced with rising homeownership costs, wait for mortgage rates, and home prices, to drop.

New Listings increased 4.5 percent for Single Family homes but decreased 24.2 percent for Townhouse/Condo homes. Pending Sales decreased 9.2 percent for Single Family homes and 40.7 percent for Townhouse/Condo homes. Inventory increased 8.9 percent for Single Family homes but decreased 11.3 percent for Townhouse/Condo homes.

Median Sales Price increased 4.3 percent to $168,000 for Single Family homes but decreased 11.2 percent to $191,000 for Townhouse/Condo homes. Days on Market decreased 5.4 percent for Single Family homes but remained flat for Townhouse/Condo homes. Months Supply of Inventory increased 33.3 percent for Single Family homes but decreased 5.0 percent for Townhouse/Condo homes.

Inventory remains at historically low levels nationwide, with only 1.15 million homes for sale heading into November, a 5.7% decline compared to the same time last year, for a 3.6 months’ supply at the current sales pace. The shortage of available properties for sale has kept pressure on home prices, which have continued to climb despite the slowdown in sales. According to NAR, the U.S. median existing-home sales price increased 3.4% from a year ago to $391,800, an all-time high for the month, with annual price gains reported in all four regions of the country." CLICK HERE to download the complete Monthly Indicator Report

Quick Facts

Residential activity in Carroll, Stark, and Trumbull counties composed of single family and townhouse/condo properties. Percent changes are calculated using rounded figures. Comparison November 2022 vs. November 2023.