Despite changing market dynamics, prices leveled out in the second half of 2024 and market activity remained remarkably unaffected—a sign, perhaps, that the market is settling into a new normal.

Between 2021 and 2023, the IPv4 market was a roller coaster ride—prices shot up in 2021, peaked in 2022, and plummeted in 2023. Those who expected a recovery in 2024 were sadly disappointed. Prices for IP addresses continued to decline, leveling out during the second half of the year. And yet, market activity remained remarkably unaffected—a sign, perhaps, that the market is settling into a new normal.

There has been a market correction to account for the price escalation between mid-2021 and mid-2022, but we also see a general decline due to changing market dynamics.

Other notable takeaways from the 2024 ARIN market include:

• For the first time since 2020, per-IP address prices for small blocks and mid-sized blocks are tracking closely.
• The mid-sized block market trading volume—consisting mostly of /16 blocks—and the number of mid-sized block buyers has declined substantially since 2022. Only 10 buyers participated in this market segment in 2024.
• The number of /20s, /19s and /18s sold in the market increased dramatically in 2024. However, as noted above, much of that was due to large block buyers’ willingness to include these smaller blocks in a transaction as long as the aggregate volume was substantial.
• RIPE NCC continues to be the ARIN region’s largest trading partner in the global market, accounting for over 60% of all inter-regional transactions.

We do not anticipate a significant change in IPv4 market activity in 2025. Market demand for IPv4 addresses remains steady, and neither buyers nor sellers appear to be under pressure to adopt IPv6.