Market Minute – August 2024

For the first time since 2020, we’ve seen a “typical” summer market in Southern Georgian Bay. This has meant modest changes in inventory, low transaction activity, and relatively quiet overall traffic. It appears that Ontarians still tend to put real estate deals on hold during the summer months, preferring to travel or simply avoid the process altogether.

Looking ahead, we anticipate that upcoming cuts to interest rates this fall will provide both buyers and sellers with greater confidence regarding the Bank of Canada’s stance. While this may not drastically alter market conditions, it should contribute to greater stability.

Given the current days on market and projections for fall 2024, we believe we are in a buyers’ market. In this environment, we can expect more sales below asking prices, extended days on market, and conditions that generally favor buyers. Competitive bidding will likely decrease as buyers benefit from a wider selection and more time to make decisions.

In the short term, we anticipate slower price growth. However, my team and I are actively preparing for a more dynamic fall market. We have a diverse range of properties coming to market and are excited to share these new opportunities with you.

CATEGORIES:

Market Minute

No responses yet

Leave a Reply

Your email address will not be published. Required fields are marked *

Bank of Canada Beef Business Christmas Cold Collingwood Commerical Creed-O Fall Farms Father's Day Fitness Food Gardening Gifts Health Heathcote Hiking Holidays Home Maintenance Interest Rates Investment Properties Kimberly Market Minute Meaford Mothers Day Outdoor Owen Sound Pets Real Estate Recipe Rentals Restaurants Rural Skiing Social Media Spa Space Spring The Blue Mountains Thornbury Travel Trump Wellness Winter

A Guide to Summer Farmers’ Markets in Southern Georgian Bay

Where to Find the Best Local Flavours This Season One of the true pleasures of summer in Southern Georgian[…]

Fruit & Feta Checkerboard Appetizers

Fruit & Feta Checkerboard AppetizersA Fresh, Fun Bite for Summer Entertaining Sometimes the simplest ideas make the biggest impression.[…]

Celebrating Father’s Day in Southern Georgian Bay

Father’s Day is almost here, and it is the perfect time to celebrate the dads in our lives with[…]

Market Minute – June 2025

As we settle into June, real estate activity across Southern Georgian Bay is sending a clear message, buyers have[…]