EP 55: Is the Real Estate Market Slowing Down? November Market Recap

In this special bonus episode of the Properties to Profit Podcast, I dive into a detailed market recap for November 2024 using insights from Columbus Realtors’ statistics. We explore how the market is shifting and what the numbers mean for real estate investors like you. From changes in closed sales and average prices to an increase in inventory, there’s plenty to unpack. Whether you’re flipping properties or holding rentals, this episode provides actionable insights to help you navigate the current market trends with confidence.

 

I also share my take on how these trends might play out in the coming months and how to adjust your strategies to stay ahead. Tune in for the stats, strategies, and mindset you need to succeed in today’s real estate market.

 

Episode Highlights

[0:00] - Introduction

[0:37] - Introduction to the new bonus market recap format.

[1:00] - November 2024 market stats: Closed sales up by 3.5%, contracts up 8%.

[2:20] - Median sales price and price per square foot increase year-over-year.

[3:19] - Inventory spikes: A 21% increase in homes for sale and rising month supply.

[4:10] - Days on market trends: Why properties are taking longer to sell.

[4:50] - Franklin County insights: Closed sales down 3.5%, but prices up 6.7%.

[5:20] - School district trends: Median prices climb as sales decline.

 

Key Takeaways:

1. Rising Prices Amid Higher Inventory: Despite a 21% increase in inventory, average and median sales prices continue to climb, signaling demand resilience.

2. Longer Sales Timelines: Days on market have increased significantly, highlighting the need for flippers to factor longer sales timelines into their budgets.

3. Localized Trends Matter: Franklin County saw a decline in closed sales but an uptick in prices, showcasing the importance of monitoring specific regions and school districts for nuanced strategies.

If you enjoyed this episode, please rate, review, and share the podcast! Don’t forget to follow me on social media for more updates and insights. Together, we’ll keep turning properties into profits!