Sagen has released it’s latest market update for Canada. Here are the highlights:
- January 2024 sales were up 16.6% on a year-over-year basis. However, last years sales were the lowest since 2009.
- New listings were down 3% from last year.
- New listings were 8% below the 10 year average.
- Active listings came in 14% higher than the previous year and inventory levels dropped.
- The GTA saw a slight price drop. Sales to listings were balanced for the second month in a row.
- Ottawa (55%), London (56%) and Hamilton (64%) moved into a sellers-market.
- Employment in Ontario grew by 23,800 jobs in January 2024.
- Loses in full-time jobs were offset by significant part-time gains.
- There were 14,988 residential sales.
- The average home price in Ontario was $842,491
- Sales-to-listing ratio was 53%.
For more detailed information for your city, please reach out to an agent.