The Silverado real estate market in December 2024 remained strong despite seasonal slowdowns, with continued price appreciation and high demand across all property types. Silverado has maintained its seller’s market conditions, driven by low inventory and steady buyer interest.
Sales: Increased by 92% year-over-year
New Listings: Rose by 83% year-over-year
Benchmark Price: $589,400 (up 6.8% YoY)
Months of Supply: 1.65 months (indicating strong demand)
Even with winter slowing overall market activity, Silverado’s limited supply kept prices stable and competitive.
Market Trends
1. Detached Homes
Sales: 14 (up 85% YoY)
New Listings: 12 (up 75% YoY)
Benchmark Price: $655,700 (up 16% YoY)
Months of Supply: 1.10 months
Detached homes in Silverado continued to be highly sought after, with prices rising significantly over the past year. Limited supply and high buyer demand have pushed prices up by 16%, making this segment the most competitive.
2. Semi-Detached Homes (Duplexes)
Sales: 1 (low activity due to limited inventory)
New Listings: 1 (unchanged YoY)
Benchmark Price: $640,100 (up 14% YoY)
Months of Supply: Not available
Sales activity in this segment remains low due to a lack of available homes. However, prices have increased by 14%, indicating strong demand whenever properties do become available.
3. Row Homes / Townhouses
Sales: 5 (up 66% YoY)
New Listings: 6 (up 50% YoY)
Benchmark Price: $490,800 (up 7% YoY)
Months of Supply: 1.45 months
Townhouses remain a popular option for first-time buyers and downsizers, offering affordable pricing with good space and amenities. The segment remains competitive, with inventory levels still below demand.
4. Apartments / Condominiums
Sales: 3 (steady YoY growth)
New Listings: 2 (down 40% YoY)
Benchmark Price: $380,200 (up 6% YoY)
Months of Supply: 1.30 months
The condo market in Silverado saw moderate growth, with low inventory contributing to price appreciation. Condos remain an affordable entry point into the community, especially for young professionals and investors.
Silverado 2024 Annual Real Estate Summary
The Silverado real estate market in 2024 experienced a highly competitive environment due to low inventory and rising buyer demand.
Key Market Highlights for 2024:
Sales Growth: Silverado saw an overall 95% increase in total residential sales compared to 2023.
Price Appreciation: The benchmark home price rose by 7.2% in 2024, reflecting consistent demand.
Market Conditions: Silverado remained in a seller’s market throughout the year, with inventory levels struggling to keep pace with demand.
Property Type Trends:
Detached homes saw the strongest price appreciation (16% YoY).
Townhouses remained highly competitive due to their affordability.
Condos attracted first-time buyers and investors, maintaining steady growth.
Silverado had a strong real estate market in 2024, with steady price increases and strong demand across all property types. As 2025 approaches, Silverado remains an attractive choice for buyers looking for a vibrant community with excellent amenities and investment potential.
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