Table of Contents
- November: The Perfect Time to Level Up Your Digital Marketing
- Trends We’re Seeing
- Median Regional Home Prices
- National Average Mortgage Interest Rates
- Client Gift Idea – Memorable Custom House Portraits
As the real estate market experiences a seasonal lull in November, it presents an ideal opportunity for agents to upgrade their digital marketing strategies. Let’s take a look at a November 2024 real estate update.
AgentUp Podcast
Listen to a summary of the November 2024 Real Estate Update on the AgentUp Podcast.
November: The Perfect Time to Level Up Your Digital Marketing
Since the COVID years, real estate marketing has undergone a seismic shift. As we transition into the digital age, traditional marketing methods are fading into the background, creating an unequivocally digital future.
By exploring the latest digital tools and solutions, you can position yourself for a competitive edge in 2025.
For example, the following digital marketing solutions are no longer optional; our buyers and sellers expect them:
Slightly slower holiday season sales offer an excellent opportunity to experiment with the latest digital marketing tools, creating engaging campaigns and seasonal promotions.
As we approach 2025, don’t get left behind. Begin embracing these digital tools and solutions. They’ll help impress your clients, sell more listings, and promote your professional services.
Trends We’re Seeing
Real Estate Price Trends
Industry experts agree that home prices will increase in 2025 but at a moderate rate compared to recent years.
- Fannie Mae forecasts a 6.1% rise in home prices this year, followed by a 3% increase in 2025. The lender anticipates a 9.8% surge in homebuyers next year after a slight 0.3% decline in 2024.
- The Mortgage Bankers Association projects a 3.9% appreciation in home prices by the end of 2024 and an additional 2.7% by the end of 2025.
- The National Association of Realtors (NAR) estimates that the national median home price will reach $398,700 by the end of this year and climb to $405,000 by the end of 2025.
– Source, Business Insider, October 2024
Median Regional Home Prices
As of November 1, 2024 (Zillow)
| City | Median Home Price | Increase / Decrease |
| New York | $757,500 | Up 2.1% from the previous year |
| Chicago | $294,700 | Up 2.9% from the previous year |
| San Diego | $1,013,900 | Up 7.1% from the previous year |
| Seattle | $850,200 | Up 3.1% from the previous year |
| Austin | $525,700 | Down 4.9% from the previous year |
| Denver | $547,500 | Down 1.2% from the previous year |
| Atlanta | $392,200 | Down 0.2% from the previous year |
National Average Mortgage Interest Rates
As of November 1, 2024 (BankRate)
| Mortgage | Current Rate | Last Month |
| 30-year Fixed | 6.95% | 6.27% |
| 20-year Fixed | 6.77% | 6.04% |
| 15-year Fixed | 6.24% | 5.49% |
| 30-year Jumbo | 6.96% | 6.41% |
Client Gift Idea – Memorable Custom House Portraits
November is a time for gratitude and thanksgiving. Customer appreciation is an intelligent marketing technique for almost any business, and most agents give closing gifts to their sellers and buyers.
So, give the perfect closing gift that will remind your clients of you for years – a custom house portrait!
Custom house portraits are artistic renderings of homes using various techniques, such as illustration, watercolor, oils, or sketching.
AgentUp creates your custom house portrait in 3 easy steps:
1. Upload – upload any high-resolution exterior or interior photo from your phone, computer, or camera. We can work with almost any image you send.
2. Select – you can choose from our three house portrait styles:
- Watercolor is a traditional favorite with soft, muted colors and edges
- Sketch style features sharp line work mixed with vibrant colors
- Illustration-style is an eye-catching, fully hand-illustrated house portrait
3. Approve—You’ll receive a high-res proof within 24 hours. Once you approve it, we’ll produce the portrait; you can have it shipped overnight.
Consider a custom house portrait as an affordable and memorable housewarming gift at your next closing.
Sign up for a free AgentUp account today and start exploring our services!
We hope this newsletter gave you some insights into what’s going on in the real estate market for November. Before you go, you may also want to check out the following related resources:
