What's going on in the Real Estate Market? We saw a 2.6% Increase in the average sales price overall and a 40.1% increase in sales activity in November 2024 compared to the same period last year.
Most people expected prices and sales to soar once we started seeing interest rate drops. Many sellers expected buyers to just fly back to the market once rates started to drop. That didn't necessarily happen. Over the month of November, we saw a huge increase of 30% in the number of active listings on the Market.
When you break it all down, you realize there are a lot of Sellers that came to the table and that necessarily didn't sell their properties. Many listings are sitting on the market, which presents a huge opportunity for Home Buyers.
Overall, I believe we are in a Healthy market as we have been able to experience a little bit of everything in today's market. Buyers have options and Sellers do to.
We at Unna Real Estate Group believe that every situation is different and every neighbourhood is different and should be analyzed as such. Feel free to reach out to us any time so we can help you analyze your situation.
