The arrival of February’s data sparks keen interest among real estate professionals, who scrutinize each indicator carefully to adjust their strategies. Examining last month’s figures is an exciting prospect as it provides valuable insights into the current state of the market, confirming or refuting our previous assumptions.

Following a promising January for the real estate market, February has affirmed this trend, maintaining sustained interest and robust activity since the beginning of the year, boding well for the future.

Market Properties

Regarding properties available on the market, two types of data capture our attention: new listings for the month and properties already for sale. Properties for sale constitute the available supply for buyers and represent competition for sellers. For February, a significant increase of 51% in the number of properties compared to February 2023 has been observed. This indicates that in February 2024, we had 1,736 properties on the market, compared to 1,151 at the same time the previous year, representing an increase of 585 properties available for buyers.

New listings, on the other hand, play a role in understanding the dynamics of the real estate market, indicating whether owners are willing to sell their homes and if it is the right time to do so. In February 2024, we recorded 597 new listings, representing a 58% increase compared to the previous year, indicating strong demand and increased interest from owners for selling.

Sold Properties

Statistics on sold properties are also of great importance, providing information on supply and demand trends, as well as price fluctuations. For February, a significant increase of 31% in the number of properties sold compared to the previous year has been observed. This increase reflects dynamism in the real estate market and denotes growing interest from buyers in acquiring properties.

Selling Time

Finally, statistics on property selling times offer valuable insights into how quickly properties are selling. A 6% increase in selling time compared to the same period the previous year was recorded in February. This slight change suggests an adjustment in the pace of real estate transactions, prompting professionals to adjust their strategies to meet the changing needs of the market.

February has maintained the momentum from January in the real estate market, both for sellers and buyers. We wonder if March will bring the same dynamic.

An article from Century 21 Estrie.