October 2024 Active Residential Listings: A YoY Market Analysis

In October 2024, the active residential listings in the real estate market showed consistent shifts, providing insight into the overall housing inventory and the current activity in the market. Starting from September 5, 2024, there were 14,539 active listings. Over the following weeks, the number of listings fluctuated, with notable decreases occurring mid-September. For example, by September 16, the number of listings had dropped to 14,838, showing a 3.89% decline from the previous week.

By the end of September, listings began to stabilize, reaching 14,831 on September 30, 2024, marking a minimal increase of 0.72% from the previous day. This stabilization suggested that while the market had experienced some volatility earlier in the month, it was beginning to even out.

Moving into October, the number of active listings continued to fluctuate slightly. On October 1, there were 14,415 active listings, a decrease from the previous day. Throughout the first half of the month, there were minor drops, with listings hitting a low of 14,447 on October 15. By October 17, the number of listings stood at 14,432, a slight increase of 41 listings from the previous day.

When examining year-over-year (YoY) changes, the market showed a significant increase in listings compared to the previous year. For instance, on October 17, 2024, there was a 17.1% increase in active listings compared to the same time in 2023. This growth indicates that more properties are available in the market this year, providing buyers with more options and potentially creating a more competitive environment for sellers.

Additionally, the months of inventory, which measure how long it would take to sell the current housing inventory, fluctuated throughout this period. On October 17, the months of inventory stood at 5.12, down slightly from earlier in the month, when it was 5.33 on October 1. This indicates that while the market remains active, the pace of sales may be slowing as the inventory remains steady.

Overall, the data highlights a dynamic housing market with fluctuating listing numbers, increased inventory compared to 2023, and a balanced rate of sales. This can provide useful insights for both buyers and sellers looking to make informed decisions in the current market environment.