Crunching the Numbers: What Q1 2024 Can Tell Us About the Months to Come

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.

To view the original article, visit the Lone Wolf blog.