The latest market trends show increased listings and opportunities.
The latest market report from October 2024 reveals exciting trends that signal a shift in the housing market. Here’s a breakdown of the most important numbers:
New listings: Up 7.2%, with a total of 4,400 listings (300 more than last year).
Pending sales: Increased by 23%, from 3,000 last year to 3,700 this year.
Closed sales: Increased by 1%, from 3,230 to 3,300.
Average home price: Rose from $380,000 to $395,000.
Days to close: Now taking about 88 days on average.
Days on market: Homes are now taking an average of 41 days to go under contract.
Average list price: $510,000.
Months of inventory: At 2.7 months, indicating a normalized market. For a balanced market, about three months of inventory is ideal.
“If you’re looking for a great deal, this time of year could be the perfect moment.”
What does this mean? The market is currently in a stable, balanced state—neither favoring buyers or sellers. It’s a healthy, thriving market, offering both opportunities for buyers and room for sellers to negotiate. If you’re looking for a great deal, this time of year could be the perfect moment to make your move, especially considering the ability to negotiate on closing costs and price reductions.
If you’re interested in exploring the current inventory and taking advantage of the market, now is the perfect time to act. Reach out today to receive a curated list of available homes. Whether you’re buying or selling, the market is ripe for strategic decisions that could benefit you. Contact me at (704) 777-8090 or email me at john@jbolos.com. Let’s start taking advantage of the market together!
