11/03/2024
In October, home sales remained steady compared to last year, with 2,174 salesโa rise from September and 24% above the long-term average. Sales in the $600,000+ range offset declines in lower-priced homes. Inventory improved significantly, reaching 4,966 units, up from 3,205 last October, but nearly half of the available homes are now priced above $600,000. The total residential benchmark price was $592,500, up over 4% from last year and averaging 8% higher year-to-date. While unadjusted prices dipped slightly due to seasonal trends, seasonally adjusted prices remained stable month-over-month.
โHousing demand has stayed relatively strong in our market as we move into the fourth quarter, with October sales rising over last month,โ said Ann-Marie Lurie, Chief Economist at CREBยฎ. โHowever, activity would likely have been stronger if more supply choices existed for lower-priced homes. Supply levels in our market are improving relative to the ultra-low levels experienced last year, but much of the gains have been driven by higher-priced units for each property type. This results in conditions far more balanced in the upper end of the market versus the sellerโs market conditions in the lower to mid-price ranges of each property type.โ
Curious about how the market impacts your home search? Give me a shout, Iโd be happy to help!
๐ 403-354-1453
๐ง [email protected]
๐ Send me a DM
๐ฅ๐ฒ๐ฝ๐ผ๐ฟ๐ ๐ฑ๐ฒ๐๐ฎ๐ถ๐น๐ ๐ฎ๐ป๐ฑ ๐๐๐ฎ๐๐ถ๐๐๐ถ๐ฐ๐ ๐ณ๐ฟ๐ผ๐บ ๐๐ถ๐๐ ๐ผ๐ณ ๐๐ฎ๐น๐ด๐ฎ๐ฟ๐ ๐๐ผ๐๐๐ถ๐ป๐ด ๐ฆ๐๐ฎ๐๐ถ๐๐๐ถ๐ฐ๐ ๐บ๐ผ๐ป๐๐ต๐น๐ ๐๐ฝ๐ฑ๐ฎ๐๐ฒ ๐๐ถ๐ฎ ๐๐ฅ๐๐* ๐ก๐ผ๐๐ฒ๐บ๐ฏ๐ฒ๐ฟ ๐ญ, ๐ฎ๐ฌ๐ฎ๐ฐ
