October 2024
October was a buy month for real estate! Closed Properties increased 7% and Average Sales Prices and Median Sold Prices remained steady with statistics from October 2023. New Listings were down 20%, but overall Active Inventory was 37% higher in October 2024 based on the previous year. There were only 2 less New Pending Sales this past October.
Year to Date - January- October 2024
Looking at the full year through the end of October, the market is relatively steady with very slight deviations from 2023. Dollar Volume YTD is flat, with less than 1% of a deviation. Average Sales Prices and Median Sales Prices remain stable, with less than 4% deviation from 2023. There have been 6 less residential sales this year, but that is reflected in decreased townhome and condo sales in 2024. There have been 336 detached homes sold so far in 2024 compared to 328 for the same time frame last year. The large majority of homes are still selling in less than 10 days, and more than half sell in less than 30 days. Pricing is crucial for DOM!
Buyers
Winter is a great time to start your real estate journey! We generally see new listings increase after the first of the year so it's best to get connected and 'in the know' now before the house you want comes on the market. There's never a bad time to 'start' in terms of connecting with your agent and getting familiar with the market. Do you plan to use your home in the winter months? Are you considering using it as a vacation rental home? Are you okay on a smaller lot in an HOA with restrictions? These are all important questions that may take time to answer! Getting connected early and learning more about the area and different areas of the lake and county will help you feel more confident when putting in your offer on the right home.
Sellers
The winter season generally brings more buyer activity as we head into the busy winter ski season. While it may be too late to sell your home before the end of the year, we expect to see high activity in January. Listing your home now will make sure it's out and in front of buyers in town over the holidays. Don't settle for the standard real estate experience! The agents at Railey Realty offer only the best photography, aerial drone photography, social media exposure, unbeatable brand awareness, highest market share, and the most knowledgeable agents in the area!
Ready to get started? Call our office 7 days a week or fill out this contact form to get paired with an agent today!
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