November saw a drastic drop in the number of homes sold compared to October, which is to be expected due to the season. This is largely a reflection of how many homes went into escrow at some point in October (most escrows take 30 days to close) and the very start of November. Sales went from 38 in October to only 18! This happened last year as well. As we enter into the holiday season, many people put their home search on hold so they aren’t having to pack up and move during the major holidays, where they are likely hosting their families or have travel plans that they don’t want to disrupt. Once again, it’s important to reiterate that these sample sizes of sales are far too small to glean any meaningful information on the market as a whole. Large swings in sold prices and days on market can easily be skewed in small data sets. Interest rates have settled into the low 6’s, and there is talk and hope that they may dip below 6% at some point in 2026. Having a 5 in front of mortgage rates will likely have a large impact on the market, and drive both prices and sales upward. December will likely see further declines in the number of homes sold, with a bump expected in January.
Claremont Market Snapshot- November
