HOW’S THE MARKET? – January 2024

February 1, 2024

As we look back on January in the real estate market, some typical trends emerged. Towards the end of December, we saw several listings drop off the market, causing a slight drop in the overall number of homes available compared to the previous month. We expect many of these listings to reappear as we move into the early spring season.

When it comes to sales, January saw 17 sold signs, slightly more than the 15 in December. What’s even more noteworthy is that we successfully firmed up a deal on a waterfront cottage that had been patiently waiting for the right buyer for quite some time. This is particularly heartening because secondary properties like cottages faced some challenges last year due to higher interest rates. The fact that they’re gaining renewed interest indicates that buyers are feeling more confident about the real estate market.

In January, we also put together a conditional offer with a Buyer on one of our listings that should be finalized soon, and we listed a farm property between Markdale and the Beaver Valley. Lastly, three of our listings saw price reductions, and we’re eagerly looking forward to seeing how the market responds.

Looking ahead, there’s talk of potential interest rate reductions throughout the year, which could bring some exciting changes to our real estate landscape.

It may seem like homes are taking a long time to sell at the moment, but compared to last year the average days on the market is actually less.  Here’s a quick breakdown of the stats in our area:

In Grey Highlands  5 homes sold with an average days on the market of 185, which is longer than in  January 2023 at 11 homes sold with an average days on the market of 99, but….

In West Grey 7 homes sold with an average days on the market of 113 compared to 7 in January 2023 with an average days on the market of 177

In Chatsworth 3 homes sold with an average days on the market of 46 compared to 2 in January 2023 with an average days on the market of 110

In Southgate 2 homes sold with an average days on the market of 59 compared to 2 in January 2023 with an average days on the market of 76

All my stats come from the local real estate board and are for residential listings in Grey Highlands, West Grey, Chatsworth Twp and Southgate.

 To find out more on how your area’s Real Estate Market is doing, take a look below:  

  Click on each image to enlarge

Here’s a breakdown to compare the total numbers for the past 6 months: