In this article, I offer you a summary of real estate market statistics in the Estrie region for the 1st quarter of 2024, compared to the same quarter in 2023. If you’re thinking of buying a property in this region, you’ll be happy to know that the market is teeming with opportunities for buyers right now!
An Active Market
Statistics for the 1st quarter of 2024 show increased vigor in the Estrie real estate market. With an 18% increase in residential sales, an impressive 35% growth in new listings, and a remarkable 41% increase in active listings compared to Q1 2023, the market offers a wide range of options for potential buyers. In addition, total transaction volume increased by 31%, indicating sustained activity and a dynamic market.
Single-Family Homes: A Diversified Offering
Sales of single-family homes were up 17% on the previous year, offering buyers a variety of options to explore. With a significant 46% increase in active listings, buyers have a wide range of properties to choose from. What’s more, the 13% rise in median price reflects an increase in home values in the region, offering buyers a solid investment opportunity.
Condominiums Remain Affordable
Statistics also reveal positive growth in the condominium market, with a 16% increase in sales and a remarkable 34% rise in active listings. With a slight increase of only 2% in the median price, condominiums remain an attractive option for buyers.
Plexes (2 to 5 Units): Investment Potential
Sales of plexes (2 to 5 units) recorded the biggest increase, up an impressive 37% on the previous year. Active listings also rose by 25%, offering buyers a wide choice of investment options. Despite a 13% increase in the median price, the average sale time fell by 5 days, indicating a dynamic and promising rental property market for potential investors.
In conclusion, the Estrie real estate market offers unique opportunities for potential buyers. With increased activity and a variety of options available, now is the ideal time to invest in real estate in this region.
Are you looking for financing for a property or renewing your mortgage? I’m here to advise you, whether you’re buying your first property or a second home.