The real estate market in New Tecumseth has shown some interesting trends over the past year. According to the HPI data, the benchmark price for all property types in September 2023 was $855,100, representing a 2.85% increase compared to the same month last year. This suggests a steady appreciation in property values over the past year.

Looking at the market report data for the last 12 months, we can see that the average property sale price in September 2023 was $940,835. This represents a slight decrease of 1.66% compared to the previous month. However, it is important to note that the average sale price has remained relatively stable over the past year, indicating a balanced market.

In terms of sales volume, there were 34 properties sold in September 2023, which is a decrease compared to the previous month. However, the number of sales has remained relatively consistent over the past year, suggesting a stable demand for properties in the area.

The average days on market (DOM) in September 2023 was 29, which is slightly higher compared to the previous month. However, the average DOM has remained relatively low over the past year, indicating a relatively quick turnover of properties in the market.

The sales price to list price (SPLP) ratio in September 2023 was 98%, which suggests that properties are selling close to their asking prices. This indicates a balanced market where buyers and sellers are able to negotiate fair prices.

Overall, the data suggests a balanced real estate market in New Tecumseth, with steady property appreciation, stable sales volume, and relatively quick turnover of properties. This is good news for both home buyers and sellers, as it indicates a fair and competitive market environment.

Read the full article on: Toronto Regional Real Estate Board