Another autumn is upon us, and with it, agents everywhere are beginning to look ahead to the year on the horizon. As always, we’re here to bring a bit of insight into the housing market today, how it’s changing, and what we might expect in the coming seasons—all to help you separate the wheat from the chaff when it comes to your strategy for the new year.
The housing market remains steady in 2024
When we compare our Q3 numbers from 2024 to the year prior, we can see more things have stayed the same than changed—in particular, some key statistics have barely changed at all. With new listings and listings under contract both seeing an increase of 5% or less, and listings sold seeing a decrease of just 6%, it’s safe to say that these areas aren’t seeing any concerning change.
Off market listings have increased by 71%
Likewise, we saw a 71% increase in off-market listings between this year and last—though, given the rate of growth in this area over recent years, anything but an increase would be more surprising.
Housing inventory has increased 24%
Inventory is the only area that saw significant change, with an increase of 24%—a sign of the market slowing, yes, but something with the potential to provide some relief to strained markets after recent declines in inventory across North America.
What can you do to improve your Q4?
As stress for homebuyers is reduced and the market slows, now is the right time to reinvest some of what you reaped this year.
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