Business

October home prices up 8 percent in Auburn compared to same time last year

Reporter staff

Homes sales in Auburn were down 1.6 percent but prices were up 8.3 percent in October compared to the same month in 2012.

A total of 127 homes were sold at a median price of $254,589, according to numbers compiled by Redfin, a Seattle-based real estate company. The numbers only reflect transactions on the Multiple Listing Service, a local or regional database of available real estate for sale by member brokers.

Auburn homes sold 53 percent faster than October 2012, spending an average of 24 days on the market.

Despite October's political and economic uncertainty, home prices and sales remained relatively strong, as falling mortgage rates and reduced competition helped sustain homebuyer demand, according to Redfin, which publishes Real-Time Home Price Tracker at redfin.com.

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