Market Statistics: November 2024
Here are the real estate market stats for Minto, Mapleton and Wellington North for November 2024.
The real estate market stats are in for November.
These numbers are for all residential properties ….attached and detached.
If we adjust for the seasonal land lease property sales in rural Wellington North, the average sale price is actually steady $591,251 number sold is 13, number listed is 21 and the average days on market is approximately 32.
The months of inventory for each municipality is as follows:
Minto: 6.8 down from 7.7 in October (Weak Buyers Market)
Mapleton: 2.8 down from 3.7 in October (Sellers Market)
Wellington North: 3.3 down from 4.2 in October (Weak Sellers Market)
Months of Inventory (MOI) is a metric used in real estate to measure the balance between supply and demand in the housing market. It represents the number of months it would take to sell all the current homes on the market, assuming no new listings are added, at the current sales pace.
With interest rates coming down, inventory levels have slowly decreased since June as buyers who have been sitting on the sidelines have started to make their move.
Any questions regarding the real estate market? Shoot me a message. I am always here to answer. Message me here krista@kristafisk.com.
THINKING ABOUT BUYING OR SELLING IN 2024?
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