Market Update: October 2024

I always tell clients that real estate moves slowly. We are seeing similar numbers in statistics as we have in past months, but anecdotally, we have been able to get some great deals for buyers on properties recently, suggesting that pricing could be softening, but we haven’t seen the trends appear yet in the statistics.

Number of Sales

September had 129 sales, only two less than August’s 131. Staying pretty steady.

Median/Average Price

Since May, the median price has been incredibly stable, right at $1.05m, looking at 6 month trailing data.

Average pricing picked up in September, indicating higher priced units selling in September. Some of the Alcove units in Keystone closed so that, along with other luxury sales, are pushing up the average pricing.

Also see trailing 12 months to show the strength of sales prices.

Median:

Average:

Days on Market

Median and Average Days on Market jumped in September as summer listings continue to stay on the market.

Median DOM is 37:

Average DOM is 62:

Pending Sales

In September 163 properties went under contract indicating that the number of sales will remain steady.

Active Listings

Active listings dropped to 646 which will ease competition a bit. However, we are also entering slower sales season so expect less buyers and less showings