Happy New Year! Heres to better tariff relations with the U S A and to more interest rate cuts.
Typical of December trading volumes were low and that included leasing activity as well.
Case in point there was only one property leased during the month, a detached 2-storey in Falgarwood that previously had rented for $400 a month more only 18 months ago and now leased for $3,900/mth. That's a 10% reduction. And there is still a lot of choice with 717 homes and condos available to lease.
For sale activity was also extremely low with 128 properties selling compared to 201 a year ago. There is also plenty of inventory to choose from with 705 properties available for sale.
Here's how the year over year numbers look;
2024 2025 % change
Detached 2-storey $2,310,340 $1,719,294 - 34
Bungalows $1,505,875 $1,463,000 - 3
Split Level Homes $1,385,750 $1,455,000 + 5
Linked Homes $1,059,000
Semi-detached $1,040,667 $1,084,000 + 4
Freehold THs $1,184,026 $1,374,909 + 16
Condo THs $841,571 $674,250 - 25
Stacked THs $644,000 $647,500 + 1/2
Condo Apartments. $666,294 $576,944 - 11
The average Freehold TH sale would have been about $200,000 less if you backed out the two downtown new development sales which sold for over $8mm combined.
November 2025's 211 sales was substantially higher than this December and better than November 2024 141 homes and condos sales.
It appears that selling prices have pretty much bottomed and I expect sales will begin to pick-up by mid-month as buyers decide to go forward with their housing plans and needs.
It is definitely nice to not have to compete for most homes.
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