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As winter loosens its grip and the promise of warmer days emerges, so too does the real estate landscape. Just like last year, we’ve witnessed a significant acceleration in home sales as we bid farewell to the colder months.

In March 2024, the market has shown vitality compared to February of this year, with 37 homes changing hands at an average of 96 days on the market. This figure remains generally comparable to March 2023, where 38 homes were sold with an average of 85 days on the market.

Let’s delve into the specifics within our local communities:

**Grey Highlands:** Despite a decrease in the number of homes sold from March 2023 (9 homes) to March 2024 (7 homes), there’s been a marginal increase in the average days on the market, from 113 days to 127 days.

**West Grey:** This area has shown resilience, with 13 homes sold in March 2024 compared to 15 in the previous year. However, there’s been a positive change in the average days on the market, dropping from 93 days in 2023 to 83 days in 2024.

Here’s what April Bowler at TD Canada Trust had to say about this month’s interest rates:

March 1, 2024

Sales have been holding steady compared to last year with a total of 20 sales in February 2024, this is the same as it was in February 2023, but we’ve seen a dip from the peak in February 2022 when there were a total of 42 sales in February that year. On the bright side, there’s more inventory available, giving buyers more options to consider. However, the average sold price has dipped a bit compared to last year.

Compared with last year the number of active listings (homes for sale) at the end of February was up at 178, but the average sold price was down at $741,425 compared to 158 active listings in February 2023 and an average sold price of $821,050.  

March 1, 2024

Here’s what April Bowler at TD Canada Trust had to say about this month’s interest rates:

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.

Check out what April Bowler at TD Canada Trust had to say about this month’s interest rates.

January 1, 2024

In the December market update, we observed a notable decline in both the number of sales and active listings on the board. It’s not unusual for December to be a quieter month as people focus on holiday festivities and family time. However, the exciting news is that inquiries from buyers have started coming in more steadily shortly after Christmas and continue into January. This trend is promising for those currently on the market or considering entering it in early spring. In December, we had the pleasure of helping four families secure their new homes. Interestingly, three out of those four families initiated their search during the summer months, highlighting the time and patience it sometimes takes to find the perfect home or negotiate a favorable deal. As we move forward into the new year, we remain optimistic about the market’s momentum and look forward to helping more families in their real estate endeavors.

January 4, 2024

Here’s what April Bowler at TD Canada Trust had to say about this month’s interest rates:

It is refreshing to see yet again some more decreases in the fixed rates!  Even the 4 and 5-year fixed rates are back in the ‘5’ range!

The first Bank of Canada announcement for 2024 is scheduled at the end of this month on the 24th and we are eagerly anticipating another hold to start the year!  The predictions seem to be that we should see some decreases coming in the early spring, which would be a welcome change and hope for this new downward trend!

December 1, 2023

The total number of sold listings in November was 30.  Even though this number remained the same as in October, during the first 2 weeks of November showings were very, very slow.  In the last 2 weeks, things perked up!

Here’s what April Bowler at TD Canada Trust had to say about this month’s interest rates:

The season is upon us and I for one had a very busy November!  The market was flooded with many new listings and the media started to take a turn as the month marched on with positive news from the inflation numbers and slowing economy!  This is all good news when it comes to rates and there is hope that we have hit the peak of rate increases and can expect to now wait for the downward turn to come!