top of page
  • Writer's picturevanessamclarty

December Market Report

The December Market Report is here!!


For single family homes:

Average days on the market is up 11%: An increase in the average days on the market typically suggests a slower-paced market, indicating that homes are taking longer to sell.


Median price is up by 0.2%: An increase in median price would usually indicate a seller's market, as it suggests that there is demand for homes, potentially leading to higher prices but in this case the increase was negligible.


Active listings are down 16%: A decrease in active listings generally suggests lower inventory, which can be a characteristic of a seller's market.


Listings sold for single-family homes are down 16%: A decrease in the number of listings sold can be an indicator of a slower market, possibly favoring buyers.


But of course we all know that interest rates are playing a large role.




For condos:

Average number of days on the market is up 14%: An increase in the average days on the market generally suggests a slower-paced market, indicating that condos have been taking longer to sell.


Median price is down 6%: A decrease in median price indicates a potential buyer's market, as it suggests a decline in demand or an oversupply of condos. Lower prices is great for buyers!


Active listings are down 3%: Again since interest rates went up, less people were willing to list their home because it meant buying a different home at a higher rate.


Listings sold for condos in Longueuil are down 34%: A significant decrease in the number of listings sold still indicates a slower market, possibly favoring buyers.


Considering these factors, the condominium market in Longueuil appears to have mixed signals but tends towards a buyer's market due to the increased days on the market, lower median price, and decreased number of listings sold. As always, it's important to consider additional local factors like #interestrates #realestateinvesting #realestate




Comments


bottom of page