Saint-Lazare Real Estate Market: A Comparative Analysis of January 2024 and 2023
Explore the dynamic landscape of Saint-Lazare’s real estate market through a detailed comparison of statistics from January 2024 against January 2023. This post offers crucial insights for buyers and sellers into the single-family home market, highlighting the significant trends and shifts that could influence your next real estate decision.
Market Dynamics Overview
Recap of January 2023:
- New Listings: 28
- Active Listings: 77
- Sales: 17
- Total Dollar Volume: $11,365,675
- Average Days on Market (DOM): 67
- Average Sale Price: $688,569
- Sale-to-Asking Price Ratio: 98%
- Sale-to-Municipal Evaluation Ratio: 136%
Insights from January 2024:
- New Listings: 38 (↑35.7%)
- Active Listings: 107 (↑39%)
- Sales: 8 (↓52.9%)
- Total Dollar Volume: $6,230,000 (↓45.2%)
- Average DOM: 47 (↓29.9%)
- Average Sale Price: $778,750 (↑13.1%)
- Sale-to-Asking Price Ratio: 99% (↑1%)
- Sale-to-Municipal Evaluation Ratio: 146% (↑7.4%)
Understanding Key Market Trends
The evolving market dynamics from January 2023 to January 2024 in Saint-Lazare present a nuanced picture for those looking to buy or sell. Here’s what you need to know:
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Increased Inventory: The market is becoming more vibrant with a significant rise in both new and active listings, offering a broader selection for potential buyers and signaling a good time for sellers to list.
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Decline in Sales Volume: The decrease in sales and total dollar volume could indicate a cooling phase, suggesting buyers may have more negotiation power.
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Faster Sales: The reduction in average days on market shows that well-priced and appealing properties are still attracting serious attention, a positive sign for sellers.
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Rising Property Values: The increase in average sale price and valuation ratios indicates a strong demand for quality homes, which is promising for sellers and something for buyers to consider in their investment.
Highlighting Million-Dollar Sales
January 2024 saw two significant sales over the million-dollar mark, emphasizing Saint-Lazare’s appeal to those seeking luxury properties:
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2653 Rue du Sanctuaire: Achieving nearly its asking price, this sale demonstrates the high value and interest in premium properties, closing in just 50 days.
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1095 Rue Pine Ridge: This property exceeded its asking price through a competitive bidding process, illustrating the market’s robust demand for distinctive, high-end homes.
Market Implications for Participants
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For Buyers: The current market conditions offer a wide range of options, making it a great time to explore the diverse offerings in Saint-Lazare. With strategic negotiation, buyers can find excellent opportunities in both the standard and luxury segments.
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For Sellers: Increased inventory and rising property values present a favorable environment for selling. Ensuring your property is well-presented and priced correctly is key to attracting serious offers quickly.
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For Investors: The market dynamics suggest that Saint-Lazare remains an attractive area for real estate investment, particularly in the luxury segment where demand is strong.
Conclusion
The Saint-Lazare real estate market in January 2024 showcases a landscape of opportunity and growth for buyers, sellers, and investors. Strategic engagement and informed decision-making are crucial to navigating this vibrant market successfully.
Are you considering buying or selling in Saint-Lazare? Partnering with a knowledgeable real estate agent can provide you with the competitive edge you need. Ready to take the next step? Contact me today for personalized advice and insights tailored to your real estate goals.
