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
January 2025 Market Update
Dated: February 5 2025
Views: 186
📢 January 2025 Market Update 📢
Here's what happened in January 2025.
Average sale price has increased in most markets and homes are selling closer to their 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 increased, the number of new listings decreased and the number of sales were down which is typical for this time of year. Lots of people are getting their homes ready for the Spring market.
The most recent Bank of Canada announcement on January 29th saw another 0.25% decrease in the overnight rate which is great news, especially for those with variable rate mortgages. Some fixed rates have come down a little bit as well. This was the 6th decrease since June 2024. The threat of tariffs has brought some uncertainty to future rate cuts and the Canadian real estate market in general. The fact of the matter is that people are always going to need to buy or sell for various reasons and we can’t let “what ifs” deter us from making important life decisions. The next announcement is March 12, 2025 and it should be an interesting one.
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....
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