November Market Update: A Slower Pace with Resilient Prices
As we closed out November, the real estate market across McFerrin Park, Cleveland Park, and Highland Heights reflected a seasonal cooldown—but not without some surprises.
The average sale price held strong, rising 2% year-over-year to $692,492. Median sale price stayed flat at $624,000, a sign that while demand has softened, values remain steady.
That said, activity slowed dramatically:
New listings dropped 65%, and closings were down 28% compared to this time last year. With only 13 homes closed in November, this was one of the slowest months in the past year.
Inventory is down slightly (-16%) from last year, but months of supply crept up to 5.88, inching us closer to a balanced market. Homes are taking longer to go under contract (59 days on average), but once under contract, they’re closing quickly—just 32 days.
What This Means for You:
- Sellers: Fewer listings means less competition, but buyers are taking longer to act. Pricing and presentation are everything.
- Buyers: While prices haven’t dropped, the slowdown means less urgency and more room to negotiate. And with time on your side, now might be the ideal time to move before the spring rush.
Whether you’re thinking of buying or selling, understanding the timing and tempo of the current market can make a real difference.
Data source: Realtracs, November 2025
