The Hawkwood real estate market experienced moderate activity in December 2024. The benchmark price for total residential properties was $649,800, representing a 5.5% decrease from the previous month. Despite the price dip, sales increased by 40% compared to December 2023, with a total of 7 transactions.
Key statistics:
Sales: 7 (+40% Y/Y)
New Listings: 5 (unchanged Y/Y)
Months of Supply: 2.14 months (indicating balanced conditions)
Inventory: 15 active listings, a significant 1400% increase from last year.
Segment Breakdown
Detached Homes: $711,100 benchmark price (-6% Y/Y), with 6 sales recorded.
Row/Townhouses: $426,000, showing a 5.2% annual increase.
Apartments: $338,100, up 5.5% Y/Y.
Semi-Detached: No recorded sales this month.
2024 Annual Market Summary
Year in Review
Overall, 2024 saw continued price growth and a stable sales environment in Hawkwood. The total annual residential benchmark price averaged $687,575, reflecting an 8.3% increase from 2023.
Annual Key Trends:
Total Sales: 120 homes sold, a 2% increase over 2023.
New Listings: 167 listings, up 28% Y/Y.
Months of Supply: Averaged 1.65 months, showing a strong demand throughout the year.
Highest Benchmark Price (May 2024): $715,400.
Lowest Benchmark Price (December 2024): $649,800.
Notable Market Trends:
Increased New Listings: The number of new listings grew significantly, particularly in Q2 and Q3.
Rising Prices in the First Half of the Year: Prices peaked in May 2024 before softening towards the end of the year.
Stable Demand Despite Higher Interest Rates: Sales remained steady, and buyers continued to show interest in detached homes.
The Hawkwood real estate market in 2024 was strong and resilient, with steady price appreciation and stable sales. While December saw a temporary price dip, the overall yearly trend remained positive. Heading into 2025, market conditions suggest a continued balanced market with good opportunities for both buyers and sellers.
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