Nov 13 2024 18 mins
Are you curious about the latest trends in Durham's real estate market? I've got you covered with a comprehensive update that breaks down the key performance indicators and what they mean for buyers and sellers.
In this episode, we'll dive into the October stats and compare them to BMO's predictions for 2025. You'll get an insider's look at how the market is shifting and what it means for your real estate decisions.
What You'll Learn:
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The current state of active listings and sales volume in Durham
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How average sales prices are trending month-over-month
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Why the absorption rate is a critical indicator of market balance
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What BMO's economic predictions suggest for the coming quarters
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Actionable insights for both buyers and sellers in today's market
Key Market Insights:
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Active listings are down, while sales volume is up
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We've returned to a balanced market with a 40% absorption rate
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Average days on market are holding steady around 22-23 days
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Pricing strategies are crucial in the current market conditions
What This Means for You:
If you're a buyer, now might be an excellent time to enter the market. With high inventory, stable prices, and predicted rate drops, you could find yourself in a uniquely advantageous position.
For sellers, while the market isn't seeing dramatic price increases, the uptick in sales volume could present opportunities, especially if you're considering selling an investment property.
I'll break down the data by region, giving you a granular view of how different areas within Durham are performing. Plus, I'll share my theory on why we're seeing these trends and what they could mean for the future of our local real estate market.
Whether you're looking to buy, sell, or simply stay informed, this market update provides the insights you need to navigate Durham's real estate landscape with confidence.
Tune in to get all the current data and learn how to position yourself for success in this evolving market!
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