Summer in our region is spectacular, and there is no better way to enjoy it than living right along the waterfront. Downsizing to a waterfront condo or townhouse along the Bay of Quinte offers a
October 2024 Market Update
Dated: November 12 2024
Views: 143
📢 October 2024 Market Update 📢
Average sale price has decreased in most markets and homes are selling less than asking price. (Keep in mind, big increases or decreases from month to month on average sale prices can be skewed by one or more unusually high or low sale prices). Days on market has decreased and the number of properties on the market that actually sold is higher. This is due to a significant increase in the number of listings and more competition for sellers.
The most recent Bank of Canada announcement on October 23rd saw a big 0.50% decrease in the overnight rate. This is the 4th decrease since June 2024. Activity has definitely picked up since that reduction as buyer confidence returns. Savvy buyers are realizing that many people coming back into the market at the same time means that demand increases and therefore prices follow so they best purchase something before that happens. The next announcement will be December 11th, 2024 there is still hope for further reductions which should make for an early Spring 2025 market.
Have questions or don’t see stats for your area, reach out we’d be happy to get them for you.
Julie Martin
I have a passion for helping people reach their real estate goals. Whether that be buying your first home, moving up to your next home, downsizing, buying an investment property or building a new home....
Latest Blog Posts
You don’t have to pack up your entire life by this weekend. In fact, rushing the process is the fastest way to get overwhelmed. The most successful moves are planned an entire year in advance
Downsizing is a long-term play. Even if you are completely healthy, mobile, and active today, choosing a home with built-in "age-in-place" features ensures you will never have to move again.When
It is one of the toughest roles reversals in life: realizing that your parents' beloved home has become a safety hazard, and having to gently guide them toward the idea of moving.When adult children
