Q1 2024 Real Estate Market Stats Report

To check out the Q1 2024 Real Estate Market Stats Report click HERE.

Summary

Market Overview: We're seeing encouraging signs of recovery with both sales and inventory increasing compared to last year. The market is finding its balance, much like a well-coordinated family routine. The sales to new listing ratio has maintained a level that promises a fair play for both buyers and sellers.

Regional Highlights:

• Kitchener: Homes in Kitchener are appreciating, with median sale prices consistently climbing. This trend underscores a robust market environment.

• Waterloo: Detached homes in Waterloo have seen a significant price increase, especially in the eastern regions. However, Uptown Waterloo offers more competitive pricing, presenting opportunities for buyers.

• Guelph: Sales have surged in South Guelph, showing vibrant market activity. Conversely, North Guelph presents a softer market, where buyers might find more value.

Looking Ahead: Our analysis suggests a potential easing of interest rates by mid-year, which could enhance buying power and fuel further market activity. The introduction of 30-year amortization periods for first-time home buyers could also shift market dynamics, offering new opportunities for entry-level buyers.