Market Trends:
Detached Homes
Sales: 5 (same as September, no Y/Y change)
Inventory: 4 units (-56% Y/Y, down from 8 in September)
Benchmark Price: $586,500 (+7.7% Y/Y, +0.4% from September)
Months of Supply: 0.83, similar to September, indicating continued seller’s advantage
Semi-Detached Homes
No sales in October (same as September)
Inventory remained at 0 units
Benchmark Price: $554,100, up 18.4% Y/Y, but slightly lower than September's $560,000
Row Homes
No sales in October (compared to 1 sale in September)
Inventory: 1 unit, stable
Benchmark Price: $409,700 (+9.9% Y/Y, compared to $412,000 in September)
Apartments
Sales: 7 (+75% Y/Y, compared to 4 in September)
Inventory: 2 units (-33% Y/Y, stable from September)
Benchmark Price: $348,400, up 10.5% Y/Y, slightly up from $347,000 in September
Overall Market Comparison
Market Insights
Sales remained strong but dipped slightly from September, reflecting seasonal adjustments.
New listings dropped sharply (-56%), tightening supply and fueling price stability.
Prices held steady or increased slightly across all property types, indicating continued demand.
Low months of supply (0.83) highlights a strong seller’s market.
Community Features & Outlook
Millrise remains a highly desirable neighborhood due to its proximity to transit, parks, and amenities. With supply tightening, prices are expected to hold steady or increase in the coming months.
Compared to previous months, October 2024 saw a decrease in new listings and stable pricing, keeping competition high for buyers. Expect continued seller advantages as we move into the winter months.
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