December 2024 Housing Market Trends | Median Sale Prices Soar 10.6%
Donald Horne, Broker / Owner, Team Success Listing LLC
As 2024 came to a close, the housing market showcased a mix of resilience and challenges. December’s statistics revealed notable trends:
- Closed Sales saw a modest increase of 0.2%, indicating steady activity despite seasonal slowdowns.
- Pending Sales dipped by 3.6%, reflecting possible buyer caution as interest rates and economic factors played a role.
- The Median Sale Price experienced a significant rise of 10.6%, highlighting strong demand and limited inventory in many markets.
- New Listings dropped by 9.1%, signaling hesitancy among sellers to enter the market during the winter months.
- The number of Homes On Market grew by 8.3%, offering buyers more options as inventory slowly expands.
- The Average Days On Market increased by three days to 40, suggesting slightly longer times to secure buyers compared to previous months.
Despite these fluctuations, the substantial increase in median sale price illustrates a competitive market, benefiting sellers who list strategically. Buyers, meanwhile, may find opportunities among growing inventory and slightly extended market timelines.
This evolving landscape emphasizes the importance of working with us, Team Success Listing, to navigate the complexities and seize opportunities effectively.
Donald Horne / Broker-Owner
Team Success Listing LLC
teamsuccesslisting@gmail.com / 1-810-338-0628
https://www.teamsuccesslisting.com
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