2024 has certainly had a great first quarter, many homes at all price points selling quickly with some owners receiving multiple bids. First time buyers waiting for interest rate cuts may have to exercise more patience as the Bank of Canada doesn't appear to be making any changes soon.
Selling price numbers are still healthy with detached 2-storey and bungalows averaging $2,236,815 and $1,766,000, respectively. Year over year they were down approximately 2.5% and 9%.
Detach split level homes rose 4% to $1,598,125. Condo apartments fell 3.5% to $740,528. Freehold townhomes were down 1% to $1,161,941. Not so bad.
And as we roll into April a number of homeowners are continuing to market their properties to induce more than one Offer, either by setting a future date to review any/all Offers or, allowing sufficient time to reply to any Offer that materializes.
The rental market saw 84 leases during the month ranging from $1500 for a townhouse basement apartment to $9500 for and executive recently built home in Southwest Oakville.
Feel free to contact me with any questions that you may have at
"kevinmconroy55@gmail.com" or, text/call 905-330-9197
Happy Spring!
