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CURRENT MARKET UPDATE:

Cariboo Real Estate Market Update - January 2025

As we enter January 2025, here’s an overview of the real estate market performance, reflecting on sales activity and inventory trends compared to previous months and the same time last year.

 Market Analysis:

1. Sales Trends:

  - Sales have decreased slightly from 11 in January 2024 to 10 in January 2025, continuing the trend of lower sales numbers often seen at the start of the year. This could be attributed to seasonal factors.

2. Inventory Levels:

  - The rise in active listings to 130 reflects a healthier inventory compared to 110 in January 2024. This increase can provide buyers with more options and potentially stabilize the market.

3. New Listings Surge:

  - The jump in new listings from 18 last January to 31 this January indicates a positive shift, suggesting that sellers are more willing to enter the market, likely in response to favorable conditions.

4. Market Dynamics:

  - The significant decrease in average days on market from 117 days in January 2024 to 85 days in January 2025 suggests that homes are selling faster, which is a positive sign for sellers and may indicate stronger buyer demand.

5. Overall Market Health:

  - The combination of increased active and new listings, along with quicker sales, indicates a dynamic market. However, the slight decline in sales volume suggests that while inventory is growing, buyer activity may still be cautious.

In summary, January 2025 shows a mixed yet generally optimistic outlook for the real estate market, with increasing inventory and quicker sales serving as indicators of a market in transition. As the year progresses, monitoring these trends will be crucial for understanding the market's trajectory.

Land Sales:

In January, there were 7 land-only sales. Year-to-date, there have been 7 land sales, illustrating ongoing interest in land purchases despite the overall market fluctuations.

Year-To-Date Performance:

Comparing year-to-date figures, 2024 has seen 299 total sales, and we are starting 2025 with 10 Sales which is down from last years 11 sales.

- $299,999 or less: 1 sales

- $300,000 - $599,999: 6 sales

- $600,000 - $899,999: 2 sales

- $900,000 and higher: 1 sales

In January alone, the distribution of sales was:

- $299,999 or less: 1

- **$300,000 - $599,999: 6

- $600,000 - $899,999: 2

- $900,000 and higher: 1

January 2025 Sold Price Breakdown:

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