The market was relatively active this January with over 700 showings per week and over 500 homes and condo's to choose both for sale and for lease. Buyers and tenants have choice. And the weather other than being cold has cooperated with not too much snow.
Year over year the sales numbers are down 41% to 136 sales compared to 192 sales a year ago.
Here is the breakdown by housing style;
2024 2025 % change
Detached 2-storey $2195757 $1962472 -12
Det bungalows $1359571 $1410000 +4
Det Split Level $1390000 $1979259 +42
Condo Apartments $785400 $790560 +1/2
Condo THs $856333 $1256000 +46
Freehold THs $1141667 $1243906 +9
Semi-Detached $1156412 $1227333 +6
Stacked THs $725000 $681600 -6
As you can see most of the categories have seen increases.
We also saw a 25 basis point reduction in the overnight rate which will benefit lines of credits holders and variable rate mortgages. In addition, the change in power in the United States with President Trump taking over from Joe Biden comes with his proposed tariffs implementation. And that is partly why the Fed recently reduced interest rates to help keep future inflation in check. It is hard to tell if President Trump will actually go ahead with these tariff plans or, is he actually bluffing? General consensus says he will. We shall soon see.
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