Happy New Year!
Is it too late to say that? I mean, it’s January 11th and all. What is the last acceptable date on which you can wish somebody a Happy New Year? Discuss…
Yes, 2024 is upon us, and with that comes the January real estate market!
If you’re a real estate agent, you immediately said aloud, “What market?” And your question would be a fair one since there doesn’t seem to be a market thus far in January.
In 2021 and 2022, the real estate market began with a furious pace to start the year, as buyers were seemingly shot out of a canon and attacked new listings aggressively.
Even last year, in 2023, the January market was busy.
But so far, albeit only through eleven days, it seems like we’re still waiting for the 2024 real estate market to begin.
There are buyers out there, no doubt about it. But there don’t seem to be any listings. And with what few new listings we are seeing on the market, we’re all asking ourselves: is this listing actually “new?”
So far in 2024, most of what I see coming onto the market represents a “re-list.” These are properties that were on the market last fall. So, while they’re technically considered “new listings” by TRREB standards, they’re not impressing the buyer pool, nor are the agents getting excited.
In today’s Pick5, we’re going to randomly select five “new listings” that came onto MLS in the last three days, review the properties and pricing, and then determine if these are truly “new” or if they’re simply re-lists.
The sample size is small, but this will be a very good indication of what type of inventory we’re seeing so far this year.