Residential real estate is experiencing its best year since the recession. More of the same is anticipated in 2016, but inventory and affordability challenges coupled with mortgage rate increases will likely keep any sort of monster growth in check. This should be a good thing for keeping home prices from increasing too rapidly to maintain economic stability.
For November 2015, the Median Sales Price was up 15.0% to $1,295,000 for single family homes and 10.3% to $1,125,000 for Condo/TIC/Coop properties.
Read the full report: SFAR MarketFocus – November 2015