MARKET INSIGHTS & UPDATES

What Trends are we Seeing? The number of home sales in September 2024 rose by 8.5 per cent relative to that of September 2023. The combination of softer home prices and decreasing interest rates have brought some wait-and-see buyers off the sidelines. The benchmark home price index dropped 4.58 per cent on a year-over-year basis to $1,068,700. The largest decline came from the townhome market with a 4.0 per cent decline ($904,200). The second largest decline came from the

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What Trends are we Seeing? With the Sales-to-New Listing Ratio (SNLR) for residential homes at 40% we continue to see a buyer’s or balanced market. Note that this is an uptick from prior months of July and August where the SNLR was definitively a buyer’s market. The number of transactions in August 2024 decreased to that of August 2023 by 5.3%. Notable is that there was an increase in the number of transactions from July 2024 to August 2024 by 0.6 per cent. All property

What Trends are we Seeing? From properties that are struggling to get a showing, to multiple offers on $2.0M+ properties and in the last 90 days seeing two +/-$5.0M sales which have been listed as long as 18 months the real estate market is as easy to predict as the weather. The Sales to New Listing Ration (SNLR) moved deeper into buyer market territory from June’s 38 per cent to July’s 33 per cent. Yet, sales increased from July 2024 relative to that of July 2023 by 3.3 p