The Market at a Glance
The local real estate market is shifting in response to multiple factors—seasonality, interest rates, and now the economic uncertainty surrounding new US tariffs. Buyers and sellers are taking a step back to assess how these changes might impact affordability, supply chains, and overall confidence in the market. While prices have increased in some areas, sales have slowed significantly, and new inventory is down in multiple regions. Let’s take a closer look at the numbers.
Across the board, sales volume took a hit. Shelburne and Orangeville both saw a 47 percent drop in sales compared to last year. In Dufferin County, sales were down 39 percent year-over-year, while Caledon saw a 33 percent drop. However, Grand Valley was the outlier, with sales rising 40 percent year-over-year despite low inventory.
Average Price
February brought a mixed bag for home prices. Shelburne saw a slight increase to $699,933, while Orangeville and Dufferin County both experienced price declines of 10% and 5.5%, respectively. Caledon stood out with a huge 34% price jump to $1,346,373, but sales volume remained low. Dundalk’s average price fell 11.5%, showing softness in that market.
List - to -Sale Price Ratio
If you’re wondering how close sellers are getting to their asking price, here’s the breakdown:
Dufferin County: 98%
Orangeville: 99%
Shelburne: 98%
Caledon: 95%
Dundalk: 98%
- Grand Valley: 99%
Sellers in Orangeville and Dundalk had to negotiate more, with list-to-sale price ratios dropping slightly. Most markets still hover around 98 to 99 percent, showing that homes are still selling relatively close to their asking prices.
Days on Market
Homes in Shelburne are taking longer to sell, now averaging 71 days on market. Dundalk saw a massive increase to 65 days, while homes in Orangeville are moving faster, averaging just 23 days on market. Grand Valley and Caledon held steady, with homes selling in 21 and 27 days, respectively.
Interest Rates
The Bank of Canada held rates steady this month, but speculation is growing that rate cuts could be coming by mid-2025. Mortgage rates remain high, which is keeping some buyers on the sidelines. If you’re thinking about buying, keep an eye on fixed vs. variable rates—many experts suggest locking in if you find a good deal now.
The next Bank of Canada announcement is scheduled for 9:45 AM on Wednesday, April 16, 2025.
Final Thoughts
With sales slowing down, prices fluctuating, and economic uncertainty on the rise, staying informed is more important than ever. If you’re wondering how these changes could affect your buying or selling decisions, let’s chat.
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