It's a Seller's Market... and here's WHY.
For single family home:
A decrease in Average Days on the Market: The 19% decrease in average days on the market indicates that homes are selling faster, which typically favors sellers as it suggests high demand and limited supply.
Increase in Median Price: The 3.5% increase in median price suggests that home values are appreciating, which is often indicative of a seller's market where sellers have the advantage in negotiations.
Increase in Listings Sold: The significant 42% increase in listings sold further emphasizes the strong demand from buyers, which typically occurs in a seller's market.
Active Listings Up, but Balanced Market: Although there has been an 8% increase in active listings, the market remains balanced, suggesting that while there is more inventory available, it is still not enough to meet the high demand from buyers.
Overall, the combination of decreased days on the market, increased median price, and higher number of listings sold indicates that sellers have the upper hand in negotiations, making it a seller's market for single-family homes in Longueuil. Buyers may face competition and should be prepared to act quickly and make competitive offers.
