December 2023 Market Update

Interest rates have started to cool off, hitting rates not seen since the beginning of September. This has pushed many buyers to get back on the hunt for their next real estate purchase.

- October’s statewide median home price was $840,360, down 0.4% from September and up 5.3% from October 2022.

- The average interest rate for 30-year fixed-rate mortgages with conforming loan balances ($726,200 or less) decreased to 7.41% from 7.61% - with jumbo loans averaging a little higher at 7.52%. This has been the fourth straight week of declines!

Leegie Parker