MARKET AREAS
AREA COUNTIES INCLUDED PROVIDED BY
Anaheim/Santa Ana, CA Orange
Los Angeles, CA Los Angeles
Riverside/San Bernardino, CA
Riverside, San Bernardino
Sacramento, CA El Dorado, Placer, Sacramento, Yolo
San Diego San Diego
San Francisco, CA
Alameda, Contra Costa, Marin, San Francisco, San Mateo Anh Pham
Miami, FL Broward, Miami-Dade, Palm Beach
Orlando, FL Lake, Orange, Osceola, Seminole
Tallahassee, FL Gadsden, Jefferson, Leon, Wakulla
Jennifer Blake
Jeff Russell
Monica Hill
Serina Lowden
Monica Hill
Eddie Blanco
Adriana Montes
Danielle Galvin
MARKET AREAS
AREA COUNTIES INCLUDED PROVIDED BY
Atlanta, GA
Chicago, IL
Baltimore, MD
Barrow, Bartow, Butts, Carroll, Cherokee, Clayton, Cobb, Coweta, Dawson, DeKalb, Douglas, Fayette, Forsyth, Fulton, Gwinnett, Haralson, Heard, Henry, Jasper, Lamar, Meriwether, Morgan, Newton, Paulding, Pickens, Pike, Rockdale, Spalding, Walton
Cook, DeKalb, DuPage, Grundy, Kane, Kendall, Lake, McHenry, Will Kirby Pearson
Anne Arundel, Baltimore, Carroll, Harford, Howard, Queen Anne’s Melanie Gamble
So Maryland, MD Prince George’s, Montgomery, Charles, Calvert Melanie Gamble
Detroit, MI
St. Louis, MO
Newark, NJ
New York, NY
Lapeer, Livingston, Macomb, Oakland, St. Clair, Wayne Sherri Saad
Crawford, Franklin, Jefferson, Lincoln, St. Charles, St Louis, Warren Cathy Davis
Essex, Hunterdon, Morris, Somerset, Sussex, Union Nick Verdi
Naussau, Suffolk, Queens (presented in separate charts)
Todd Yovino
John Sherwood
MARKET AREAS
AREA COUNTIES INCLUDED PROVIDED BY
Las Vegas, NV Clark
Philadelphia, PA
Dallas, TX
Houston, TX
Seattle/Tacoma, WA
Washington, DC
Bucks, Chester, Delaware, Montgomery, Philadelphia
Collin, Dallas, Denton, Ellis, Hood, Hunt, Johnson, Kaufman, Parker, Rockwall, Somervell, Tarrant, Wise
Austin, Brazoria, Chambers, Fort Bend, Galveston, Harris, Liberty, Montgomery, Waller
King, Pierce, Snohomish
District of Columbia
Brandy White Elk
Mitchell Cohen
Sharon Bartlett
Monica Vaca
Ed Laine
Melanie Gamble
MONTHLY MARKET TRENDS
ANAHEIM/SANTA ANA, CALIFORNIA
MONTHLY MARKET TRENDS
LOS ANGELES, CALIFORNIA
MONTHLY MARKET TRENDS
RIVERSIDE/SAN BERNARDINO, CALIFORNIA
AdditionalMarketData:InOctober2024,RiversideandSanBernardinoCountiesexhibitedsteadygrowth intherealestatemarket.RiversideCounty’smedianhomepricerose3%year-over-yearto$597,000,while SanBernardino’sincreasedby5.5%to$590,085.Salesactivityshowedmixedresults,withRiverside experiencinga5%increaseinhomesalesandSanBernardinoseeingan8.6%declinecomparedtothe previousyear.Homesintheregionaveraged48daysonthemarket,reflectingamoderatelycompetitive market.Residentialconstructionremainedrobust,withRiversideissuingover12,000buildingpermitsin 2023andSanBernardinofollowingwith7,200,indicatingongoingdevelopmenttomeetpopulationgrowth. Theregion’seconomicindicatorsremainfavorable,withunemploymentratesdroppingto54%inthe Riverside-SanBernardino-OntarioMSA TheInlandEmpirecontinuestoattractbusinesses,particularlyin logistics,manufacturing,andtechnologysectors,boostingjobprojectionsacross12of13nonfarmindustry sectors Employmentisexpectedtogrowby18%from2014to2024,reflectingathrivingeconomy Combinedwithstrategicinfrastructuredevelopmentandastrengtheninglaborforce,theregionoffers significantgrowthpotentialforbusinessesandresidentsalike
MONTHLY MARKET TRENDS
SACRAMENTO, CALIFORNIA
OCTOBER 2024
Additional Market Data: In summary, the market reflects a transition phase: high rates are moderating demand, and constrained supply is stabilizing prices, with a buyer-seller balance evolving. The 4th quarter of 2024 may bring some shifts if rates decrease, potentially reinvigorating demand as affordability improves.
MONTHLY MARKET TRENDS
SAN DIEGO, CALIFORNIA
Additional Market Data: San Diego County's real estate market in October 2024 remains robust, with the median sale price for single-family homes rising 4.3% year-over-year to $970,000, and the average sale price reaching $1,284,620. Sales activity grew, with 1,186 homes sold up 10.7% from last year while active listings saw a slight increase of 2.7%, totaling 1,628. Despite these gains, the market remains competitive, with homes averaging 36 days on the market Economic indicators show an unemployment rate of 4.7%, with notable job growth in healthcare and social assistance sectors, bolstering housing demand. San Diego continues to attract businesses, particularly in tech and biotech, with projections indicating sustained job growth. However, new home construction lags behind demand, keeping upward pressure on prices and posing challenges for affordability. The county's diverse economic growth and strong employment outlook are expected to support the real estate market's strength, but stakeholders must address housing supply constraints to maintain balanced, sustainable growth.
MONTHLY MARKET TRENDS
SAN FRANCISCO, CALIFORNIA
OCTOBER 2024
Additional Market Data: After the Fed's rate drop in September, which aimed to stimulate the economy, many lenders had already factored this into their pricing. Consequently, the slight uptick in October reflects market adjustments rather than a direct response to new economic conditions. The Bay Area has seen a mix of price trends While some neighborhoods continue to experience strong demand and rising prices, others may show signs of stabilization or even declines. The average home price remains significantly higher than the national average, driven by the region's tech industry and overall desirability. Housing inventory has been tight, with many homes still selling quickly despite rising interest rates However, some areas are witnessing longer days on the market, indicating a potential shift in buyer sentiment and the impact of higher borrowing costs. The number of home sales has varied across the Bay Area. While some regions are still seeing competitive bidding situations, others are experiencing more balanced conditions, where buyers have increased negotiating power due to a slight rise in available listings.
OCTOBER 2024
MONTHLY MARKET TRENDS
MIAMI, FLORIDA
Additional Market Data: The Miami-Dade, Broward, and Palm Beach real estate market is undergoing notable changes, showing a clear transition compared to September. Active listings have surged to 41,538, reflecting a substantial increase in inventory and signaling a shift toward a more balanced or buyer-favored market. The months’ supply has risen sharply to 6.8 from 4.6 in September, highlighting that inventory is now outpacing buyer activity. This increase in supply, combined with slower buyer demand, is forcing sellers to adjust expectations and pricing strategies.
The percentage of list-to-sales price has dropped to 94 6%, indicating that buyers now hold more negotiating power than before Closed sales have also declined to 5,214, further emphasizing a slowdown in buyer activity, likely driven by affordability concerns or economic uncertainty Properties are also staying on the market longer, with the average days on market increasing from 32 in September to 42 in October, a 31 3% rise This reflects buyer hesitation as they take more time to evaluate their options in a market with growing inventory
The market is clearly transitioning, with rising inventory providing buyers with more choices while sellers face increased competition Sellers will need to focus on strategic pricing and preparing their properties to stand out, while buyers may find this an opportune time to negotiate favorable deals These changes suggest the market is continuing to cool, creating a more favorable environment for buyers while presenting new challenges for sellers
Information provided for this market by Eddie Blanco at Stratwell in Miami, Florida. Cell Phone: 305-684-8733 | Email: eddie@stratwellrealestate.com
MONTHLY MARKET TRENDS
ORLANDO, FLORIDA
Additional Market Data: In October 2024, the Orlando housing market experienced a shift, marking the end of a nine-month streak of rising inventory as interest rates climbed back into the 6.0% range. Despite this, the overall inventory remained 45.4% higher than in October 2023, providing more opportunities for buyers compared to the previous year. The median home price rose to $388,990, up from $380,000 in September However, overall sales saw a decline of 7.3% from September to October, with 2,085 homes sold compared to 2,249 in September. New listings also dropped by 7.6%, indicating a slowdown in market activity. Distressed sales (bank-owned or short sales) remained stable at 0.8% of total sales
OCTOBER 2024
MONTHLY MARKET TRENDS
TALLAHASSEE, FLORIDA
Additional Market Data: Our market has slowed and prices have started to stabilize and decline in some area. Average sales prices is down and days on market is up. Closed sales are down over 10%. October market was impacted by election, interest rates, a tornado and two hurricanes. Showings were significantly slow and has not picked up to a normal amount yet. Many listings have dropped prices in the last couple of weeks to compete with the decline
MONTHLY MARKET TRENDS
MONTHLY MARKET TRENDS
CHICAGO, ILLINOIS
OCTOBER
OCTOBER 2024
MONTHLY MARKET TRENDS
BALTIMORE, MARYLAND
Additional Market Data: The median sale price across these counties was approximately $460,000, reflecting a 2.2% increase compared to October 2023. Active listings increased by 16% year-over-year, totaling around 5,400 homes. Approximately 1,850 homes were sold during the month, marking a 4% decrease from October 2023. Homes spent an average of 37 days on the market, up from 32 days in the previous year.
Factors influencing these trends include: Elevated mortgage rates have tempered buyer enthusiasm, leading to reduced sales activity and downward pressure on prices. An increase in active listings has provided buyers with more options, contributing to longer selling times and modest price adjustments. The transition into fall typically brings a slowdown in market activity, influencing both sales volume and pricing dynamics.
Overall, the housing market in these Maryland counties during October 2024 experienced modest price growth, increased inventory, and a slight reduction in sales pace.
MONTHLY MARKET TRENDS
SO. MARYLAND, MARYLAND
Additional Market Data: October historically experiences slower activity as buyers and sellers adjust to fall conditions. With no significant change in rates, market activity held steady compared to September. Slightly higher inventory levels added pressure on sellers to remain competitive with pricing.
OCTOBER 2024
MONTHLY MARKET TRENDS
DETROIT, MICHIGAN
Additional Market Data: The market has seen a slight uptick in listings, giving buyers more options This could be due to sellers wanting to capitalize on high equity before the year's end. Rising interest rates are causing some buyers to pause their home searches, leading to properties sitting longer on the market. As we move into the holiday season, market activity is slowing down, which is typical for this time of year. Many buyers and sellers tend to postpone moves until after the new year. Sellers are adjusting asking prices to align with market conditions, leading to more competitive pricing. While multiple offers were common earlier in the year, this trend is cooling as buyer competition eases slightly. Investors are still active, especially in the under-$250K range, keeping cash offers a significant force.
MONTHLY MARKET TRENDS
ST. LOUIS, MISSOURI
Additional Market Data: While there was a lull in new listings during September, it rebounded quite nicely, almost doubling in October which is good news for buyers as the lack of inventory overall still makes this a very competitive market. Sales during the same period were fairly level.
OCTOBER 2024
MONTHLY MARKET TRENDS
NEWARK, NEW JERSEY
Additional Market Data: The median price reached $562,679 marking a 9.3% increase. There was an 8.3 % rise in homes for sale, despite the increase in inventory. The number of homes sold decreased by 6.2% YoY. Homes spent a slightly higher average # of days on market indicating a moderately paced market. Overall NJ's market in October 2024 is characterized by rising home prices and increased inventory coupled with a slight decline in sales activity suggesting a shift towards a more balanced market
OCTOBER
MONTHLY MARKET TRENDS
OCTOBER
MONTHLY MARKET TRENDS
MONTHLY MARKET TRENDS
OCTOBER
NEW YORK, NEW YORK - QUEENS
OCTOBER 2024
MONTHLY MARKET TRENDS
LAS VEGAS, NEVADA
Additional Market Data: The market currently shows signs of slowing down, with inventory increasing over the last 30 days. Between September and October, sales have remained relatively steady, indicating a stagnant demand. However, more properties are coming onto the market than are selling, creating a buildup of inventory. This excess supply suggests that the market may be shifting toward a buyer’s market, though prices have not adjusted significantly yet Properties are still somewhat overpriced, and the scarcity of price reductions indicates that sellers may still be holding out for higher prices, potentially prolonging sales timelines.
MONTHLY MARKET TRENDS
PHILADELPHIA, PENNSYLVANIA
OCTOBER 2024
Additional Market Data: Sales activity remains steady in the Philadelphia suburbs with low inventory and low days on market. Inventory is increasing in the city with sales prices starting to decrease and marketing time is increasing.
MONTHLY MARKET TRENDS
DALLAS/FT WORTH, TEXAS
Additional Market Data: DFW continues to be a hot market. The Urban Land Institute has named it as the #1 market to watch in 2025. While most of the metrics remained flat over last month, there is a slight increase in the number of new listings (6%) and average list price (16%). Additionally, the number of showings and offers received on listed properties increased slightly in October. DFW's economic success has been getting a boost from the world’s largest banks, which are increasingly planting their flags — and expensive new headquarters in North Texas. They're calling it "Y'all Street".
MONTHLY MARKET TRENDS
HOUSTON, TEXAS
Additional Market Data: October numbers remain flat over September with little change in the data. There is a slight uptick in active properties which is not typical for this time of year.
MONTHLY MARKET TRENDS
SEATTLE/TACOMA, WASHINGTON
Additional Market Data: We are still in a Seller's Market by definition, that is behaving like a Buyer's Market. We did not see an increase in sales activity with the recent reduction in rates. Now that the election is behind us and the Fed has done another rate reduction, we are hopeful that this will cause Buyers to get off of the sidelines and get back into the Market. Only time will tell, and the Holidays will have a downward effect on transaction volumes
OCTOBER 2024
MONTHLY MARKET TRENDS
Additional Market Data: A surge in inventory aligns with national trends, where active listings grew by 29.2% year-over-year. A total of 485 homes were sold in October, a 37.8% increase from the previous month. Homes spent an average of 43 days on the market, up from 30 days in October 2023, indicating a slower pace in sales.
Factors influencing these trends include: Recent declines in mortgage rates have encouraged more homeowners to list their properties, contributing to the increase in inventory. The fall season typically sees heightened real estate activity, which may explain the uptick in sales volume. Stable economic indicators and employment rates in the D.C. area have bolstered buyer confidence, sustaining demand.
Overall, the Washington, D C housing market in October 2024 experienced a balanced environment, with modest price adjustments, increased inventory, and steady sales activity.
