New Tecumseth Monthly Market Update - January, 2025

📆 January 2025 

Sales and Listings: 📉 In January 2024, 42 homes were sold, up from 33 in December.  Active Listings increased to 151 from 137 in December, while New Listings saw a large jump to 103 from 47. This is to be expected in January as we finish holiday season.   

Pricing Trends: 💰 The average price for all home types stands at $919,222 from $1,012,648 in December. Decembers value was high because the data was skewed by an $11M sale.  Benchmark Price was up to $845,000 from $827,900 December.

Market Dynamics:🏪 Homes in New Tecumseth took an average of 43 days to sell, higher, but to be expected for January.  The market had a decrease in months of inventory to 3.6, down from 4.2 in December.  Most say over 4 MOI is a buyers market.  

Interesting Observations: Year-over-year, January ’25 Benchmark Price was higher than February ’24. $845,000 vs $837,100.  Possibly suggesting the market is already a month ahead in activity from last year.

Conclusion: 👨‍🏫 Is it a good time to Buy? Yes, prices are similar to a year ago, but likely increasing in the coming months with the spring market and lower interest rates.   Is it a good time to Sell?  Yes.  Sales are strong, inventory is low and prices are competitive.  As the spring approaches, more homes will come to the market, making it more competitive for sellers.  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.