Blog

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!

November 6, 2023

In October the number of listings that sold didn’t change much, but the average sale price was quite a bit lower at $721,693 compared to $823,897 in September.

No rate increase this month!  The interest rates for November remain the same from last month.  Here’s what April Bowler from TD Canada Trust has to say about the outlook for interest rates:

As you know the Bank of Canada decided in their October 25th announcement to hold steady (for now) the overnight rate!  This was welcome news, especially after seeing home sales on the downward slide after summer.  This has been largely linked to higher rates weighing on the market and buyers staying sidelined or holding off on moving up or down for the time being. 

October 2, 2023

This month saw the highest overall average sold price since December 2022 with an average price of $823,897 compared to $898,273 in December.  Take a peak below at the very bottom to see our comparison chart for the past 6 months. It compares the total # of homes sold each month, the number of active listings at the end of each month, the average sale price and the average number of days on the market.  We currently have the largest number of active listings and the highest average days on the market but we also have the highest average price, interesting….  All my stats come from the local real estate board and are for residential listings in Grey Highlands, West Grey, Chatsworth Twp and Southgate.

October 1, 2023

Yet again, the interest rates for October have increased slightly from last month.  Here’s what April Bowler from TD Canada Trust has to say about these monthly increases:

This month was a much better month for sales in our area up from 29 in July to 47 in August!   25 of those sales were in West Grey compared to less than 10 in each of the other areas. The number of active listings remained about the same at 233.  

Here’s a quick breakdown of the stats in our area:

Update: We are happy to receive April Bowler’s update on September 6th regarding the Bank of Canada’s notice.

The interest rates for September have increased slightly from last month.  Here’s what April Bowler from TD Canada Trust has to say about these monthly increases:

“Happy September!  The beginning of my most favourite time of year!  It’s almost like a new beginning with kids heading back to school. I feel re-energized to start new routines and look forward to the structure!

August 1, 2023

April Bowler from TD Canada Trust says that “this summer has proven to be an interesting season for rates!  Bond yields are still on the rise which in turn has a direct impact on the upward swing in fixed rates!  Bank of Canada made another “fun” announcement mid July and will decide on their next move on September 6!  August will be about watching the bond market and fixed rates and where they might go!”.

In July, the number of active listings increased again from 211 to 235, and the average sale price was $713,536.  Interestingly, the number of active listings last year in July 2022 was 214, and the average sale price was $753,722. So things haven’t really changed that much since last year.

Here’s a quick breakdown of the stats in our area: