October Of 2022 Home Sales Stats

By
Real Estate Agent with Berkshire Hathaway Home Services Crest CDRE #01044712

On November 18, 2022, National Association of Realtors® (NAR) reported on median home value price was $379,100 in October of 2022 jumped 6.6% from the price of $355,700 in October of 2021.

Single family home sales were at annual rate of 3.95 million units in October of 2022 declined 6.4% from the annual rate of 4.22 million home sales in September  of 2022, and dropped 28.2% from home sales rate in October of 2021. The median single family home price was $384,900 in October of 2022, increased 6.2% from October of 2021.

Condominium and co-op sales decreased 2.0% to an annual rate of 480,000 units in October of 2022 from September of 2021, and fell 30.4% from October of 2021. Median existing condo price was $331,000 in October of 2022, rose 10.1% from October of 2021.

Distressed homes sales were 1.0% in October of 2022 lower from 2.0% in September of 2022, but unchanged from 1.0% in October of 2021.

Lawrence Yun, NAR chief economist, stated "In October, 24% of homes received over the asking price. Conversely, homes sitting on the market for more than 120 days saw prices reduced by an average of 15.8%."

For more complete information, on NAR's October 2022 home sales stats, please click HERE

Posted by

John Pusa

Real estate agent, Glendale, CA

Better way to buy and sell real estate

Berkshire Hathaway Home Services Crest

Office (818) 441-8881

Mobile (818) 441-8881

4005 Foothill Blvd.

La Crescenta, CA. 91214

Comments (12)

Ed Silva
Mapleridge Realty, CT 203-206-0754 - Waterbury, CT
Central CT Real Estate Broker Serving all equally

Interesting report. Even though activity may be slowing a bit prices are still not falling backwards the way a lot of buyers would like to see

Nov 25, 2022 06:24 AM
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good morning John - you noted distressed homes.  Not a big factor and I don't thinks is will be big like the great recession.

Nov 25, 2022 06:38 AM
Roy Kelley
Retired - Gaithersburg, MD

Thank you very much, John, for sharing this report.

Enjoy the holiday weekend.

Nov 25, 2022 08:39 AM
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello John and hope that you had lots of leftovers for today, have turkey soup for tonight with friends.

 

Nov 25, 2022 08:40 AM
John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Hello Ed Silva glad you find the report very interesting. You are right, even though activity slowing a bit, but prices are not falling backwards the way a lot of buyers would like to see. Thanks for the comment.

Nov 25, 2022 01:37 PM
John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Good afternoon Grant Schneider you are right, current distressed homes are not a big factor and most likely will not be big like the great recession. Thanks for the comment.

Nov 25, 2022 01:39 PM
John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Hello Roy Kelley you are very welcome, and glad you find this report very helpful. Thank you, and enjoy the holiday weekend too. Thanks for the comment.

Nov 25, 2022 01:41 PM
John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Hello Will Hamm you are right, I had lots of leftovers for today and maybe for tomorrow. It is great idea to have turkey soup tonight with friends. Thanks for the comment.

Nov 25, 2022 01:43 PM
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker in DC, MD, VA and attorney in DC

Thanks for the market update and information on home sales in October. I hope you have a great week. 

Nov 25, 2022 08:01 PM
John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Hello Lise Howe you are welcome, and glad you find the market update very helpful and informative. Thank you. and I hope you have a great week too.

Nov 25, 2022 08:10 PM
Kristin Johnston - REALTOR®
RE/MAX Platinum - Waukesha, WI
Giving Back With Each Home Sold!

Great post!  Thanks for sharing and enjoy your day!

Nov 26, 2022 07:46 AM
John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Hello Kristin Johnston - REALTOR® you are welcome, and glad you find the report very informative. Enjoy your day too! Thanks for the comment.

Nov 26, 2022 01:27 PM