The December numbers are in. What can you afford? Can you buy the home with your desired # of bedrooms? Reality Check!
Glossary of terms
# Homes for Sale: Number of active listings or homes available for sale during the month.
Median Price: The median price of Single-Family Residence (SFR) homes and Condos with a status of "Active" during the month by product type (1br, 2br, 3br, 4+br).
Median Days on Market: The median of the number of days properties were on the market before going Pending.
Monthly Payment: The estimated monthly mortgage payment assuming a 30-year fixed-rate mortgage (FRM) at the current interest rate. Payment also includes an assumption of 1.38% for property taxes and insurance.
Down Payment: The amount in USD $ necessary to cover the required 3% or 20% down payment in order to purchase the median priced home by product type (1br, 2br, 3br, 4+br).
Interest Rates: The Annual Percentage Rate (APR) charged for borrowing a 30-year fixed-rate mortgage according to Freddie Mac.