Market update 1-28/2025

Housing Market Wrap-Up: A Look at December’s Inventory Trends

As we closed out 2024, the housing market continued its trend of steady inventory improvements. December marked a significant milestone, boasting the highest number of available homes for the month since 2019. Let’s dive into the numbers and explore what they mean for buyers, sellers, and the local real estate market.

December 2024 by the Numbers

Total housing inventory reached 3,561 properties by the end of December. This is a 15% increase over the 3,097 homes available during the same period last year. However, compared to November 2024, inventory saw a modest seasonal decline of 7%, which is typical during the slower winter months.

Despite this slight dip, December 2024 continued an impressive streak, marking the seventh consecutive month with inventory levels remaining above the 3,000 mark. This consistent growth signals a stabilizing market, providing buyers with more options than we’ve seen in recent years.

A Four-Year Trend of Improvement

The year 2024 stands out as the fourth consecutive year of annual inventory growth, reflecting ongoing improvements in housing supply. This upward trend is a positive sign, particularly as it comes after years of tight inventory that left buyers competing for limited options.

That said, it’s important to note that we are still far from the levels seen a decade ago. At the close of 2024, the housing inventory represented only 40% of the homes available ten years prior. While the market has made strides, the reduced availability of homes continues to shape the dynamics of supply and demand.

What Does This Mean for Buyers and Sellers?

•For Buyers: The increase in inventory means more options, giving buyers a bit more breathing room compared to the highly competitive market of the past few years. However, with inventory still well below historical norms, it’s essential to work with a skilled real estate agent to navigate the market efficiently.

•For Sellers: While more inventory typically means more competition, the market remains favorable for sellers due to ongoing demand and relatively low overall supply. Pricing your home competitively and showcasing its best features will be critical to attracting buyers.

Looking Ahead to 2025

As we move into the new year, the question remains: will inventory continue to improve, or will we see a leveling off? Several factors, including interest rates, new construction activity, and broader economic trends, will play a role in shaping the market in the coming months.

Whether you’re planning to buy, sell, or simply stay informed, understanding the local market dynamics is key to making smart real estate decisions.

Have Questions About the Market? Let’s Talk!

If you’d like to know more about the latest market trends or how these numbers might affect your plans, don’t hesitate to reach out.

📱 859-302-7878

📧 bill@c21thepinnacle.com

As your trusted local real estate expert, I’m here to help you navigate the market with confidence. Let’s make 2025 a year of smart real estate moves!

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