The first three months of 2024 have come and gone, marked by increasing numbers across North American markets—and a surge in optimism to match.
Let’s have a look at the numbers:
Numbers on the rise
When comparing the beginning of 2024 with 2023, we’re seeing more increases than decreases—in fact, across nearly all categories, there’s been growth.
We’ve seen a subtle increase in listings under contract—as subtle as 0.5%—alongside a 7.5% increase in inventory, and an 8.1% increase in new listings. Less subtle is the 32.2% increase in off market listings—a category in which we’ve seen continued growth over the course of the market’s most recent years.
Our only reduction when comparing this quarter to last year’s is in listings sold, which saw a decrease of 4.2%.
What this tells us about the rest of 2024
As mentioned, this is hardly the first time we’ve seen an increase in off-market listings in recent years—in fact, we often find it to have the most substantial increase across all categories. While there are many reasons that sellers and buyers are pursuing off-market options, it’s as important to understand as it is to take action.
When it comes to listings in your market, off-market or otherwise, agents and brokers can act decisively—and efficiently—with insight from BrokerMetrics.
With numbers on the rise, there are a lot of reasons to approach your next quarter with confidence—and with the new BrokerMetrics coming soon, insights into the future of your business have never been clearer.
