As we transition into the colder months, the Princeton BC real estate market continues to show interesting trends and developments. Here’s a snapshot of the market activity for November 2024.
Feel free to reach out if you have any questions or need further insights into the Princeton real estate market!
Sales and Listings
In November 2024, Princeton saw 11 property sales, slightly down from the 13 sales in November 2023. Currently, there are 106 active listings on the market. This number reflects the usual downward trend in listings as the year ends, with many sellers waiting for the spring market to list their properties.Yearly Performance
Despite the seasonal slowdown, the overall performance of the Princeton real estate market has been robust. Over the past year, 130 homes have been sold, marking a significant 43% increase compared to the previous year. This surge indicates a strong demand for properties in the area.Market Dynamics
The average days on market for properties in Princeton is currently 3 months. This metric provides insight into how quickly homes are selling once they are listed, and a 3-month average suggests a balanced market.Pricing Trends
The average selling price for homes in Princeton has risen to $476,000, which is an 8% increase over last year. This upward trend in prices highlights the growing value of real estate in the region, making it an attractive market for both buyers and sellers.Conclusion
The Princeton BC real estate market remains dynamic and resilient, even as we head into the winter months. With a healthy number of active listings and a notable increase in annual sales, the market continues to offer opportunities for those looking to buy or sell. Keep an eye on these trends as we move into the new year, and stay informed to make the best real estate decisions.Feel free to reach out if you have any questions or need further insights into the Princeton real estate market!
Lee Mowry
Real Estate Adviser
