December 2024 

Sales and Listings:  In December 2024, 33 homes were sold, down from 59 in November.  Active Listings dropped to 137 from 205 in November, while New Listings saw a decrease to 47 from 94. This is to be expected in December because of the holiday season.   

Pricing Trends:  The average price for all home types stands at $1,012,648. A sharp increase because the data is skewed by an $11M sale.  Benchmark Price was $827,900.

Market Dynamics: Homes in New Tecumseth took an average of 44 days to sell, high, and to be expected for December.  The market had a increase in months of inventory to 4.2 in December up from 3.5 in November.  Most say over 4 MOI is a buyers market.  

Interesting Observations: Year-over-year, Dec ’23 vs Dec ’24, Benchmark Price was identical, $827,900

Conclusion: ‍ Is it a good time to Buy? Yes, prices now are the same as last year but likely increasing in the coming months with the spring market and lower interest rates.   Is it a good time to Sell?  Maybe.  Unique or challenging homes do well in markets with low inventory, because there are less options for Buyers.  Newer or updated homes that are priced well sell the best in this market.  Older homes that “need work” are harder to sell right now.  

We watch the local market very closely.  Please reach out any time with any questions.  We’re here to help.