WELCOME TO THE ABTEAM JULY BLOG!

CURRENT MARKET UPDATE:

The real estate market is ever in flux, not unlike the stock market; it just performs more moderately and is not as vulnerable. However, it does not exist in a bubble, unaffected by the economy, global crises and government decisions. All of those factors play a tremendous role in consumer confidence, and it’s consumer confidence that drives the housing market. Right now, we are experiencing relatively low consumer confidence, and it is most evident in the arena of new home sales. Alarmingly slow so far for 2025, we are certain that this year’s new home starts will be at abysmally low numbers for our area. 

The Bank of Canada decided to pause the overnight rate cuts, holding it at 2.75% for the second consecutive month. The next policy announcement is July 30, when hopefully they will resume their downward rate policy and inject some confidence into the market. 

There is good news too; locally, the removal of the tolls on Highway 407 for the entire length of the Durham Region is simply an incredible announcement. In time, we expect to see this translate to a marked increase in migration to our area among GTA buyers. Our commutability will be a huge factor in their decision making, scoring right up there with our affordability and our safe, beautiful neighbourhoods. It’s a huge win for Durham!

We believe that now is the time to buy. Whether it’s to buy your first home, upgrade from your existing one, or to acquire a recreational or investment property, our current conditions make an attractive and compelling case for timing. If this is a conversation you would like to have, call us today for a confidential assessment of your goals and a candid discussion of how you can best leverage your position. 

Central Lakes Association of REALTORS® Report June Housing Market Statistics:

The Central Lakes Association of REALTORS® (CLAR) has released its June 2025 Housing Market Statistics, highlighting varied trends across the area’s diverse Regions.

"Market activity across our Region reflects the nuances of each local area," stated CLAR President Christine Riley. "We are seeing positive momentum in many communities, including strong gains in sales and average prices in Peterborough, as well as steady improvements in areas like Hastings and Prince Edward County. With each local market moving at its own pace, the insight and expertise of a local REALTOR® are more important than ever."

Durham Region recorded 817 sales in June 2025, with an average price of $891,662, down from 877 sales and an average price of $956,428 in June 2024. However, market activity remains strong, with both new listings and active listings showing year-over-year increases at 2,282 and 2,925, respectively, compared to 2,232 and 2,181.

Hastings County experienced a notable 29% increase in sales, climbing from 168 in June of 2024 to 217 in June of 2025. Average price also showed healthy movement, rising from 534,807 to 580,298, an 8.5% increase over the same period.

In Kawartha Lakes, the average sale price declined from $751,831 in June 2024 to $695,500 in June 2025. However, sales increased by 23%, rising from 88 to 108 year-over-year, suggesting that buyers are responding to affordability and greater inventory. Average days on market improved slightly, dropping from 33 to 30.

Northumberland County saw 130 sales in June 2025, with an average price of $712,135, compared to 154 sales at $748,535 last year. However, new supply is on the rise, with new listings increasing from 336 to 387 year-over-year, and active listings growing from 605 to 768, offering more options for prospective buyers.

Peterborough witnessed a significant 37% increase in sales, rising from 179 in June of 2024 to 245 in June 2025. The average price also increased by 13%, reaching $783,966, from $693,397 during the same period. Average days on market held steady at 27.

Prince Edward County observed an increase in average price from $759,570 in June of 2024 to $781,054 in June of 2025. The number of sales rose by 12% from 33 to 37 during the same time.

“The Ontario government’s new Bill 17: Protecting Ontario by Building Faster and Smarter Act, 2025, which received Royal Assent on June 5th, marks a promising step forward. By streamlining regulations, providing the ability to defer development charges, and limiting some costly zoning rules, the bill is designed to improve affordability and availability across the province. We’re encouraged by this focus on supporting attainable housing for Ontarians,” stated CLAR Chief Executive Officer, Wendy Giroux.

SUNDAY, JULY 20th - NATIONAL ICE CREAM DAY

THURSDAY, JULY 24TH - COUSINS DAY

WEDNESDAY, JULY 30TH - INTERNATIONAL DAY OF FRIENDSHIP AND THE BANK OF CANADA RATE ANNOUNCEMENT

FRIDAY, AUGUST 22ND - THE ABTEAM SUMMER SOCIAL EVENT (See invitation details below)

As always, we are sincerely grateful for the opportunity to serve your real estate needs, and those of your family and friends, neighbours and co-workers.  It is a constant thrill to receive personal recommendations from our clients, and we have been so fortunate to be able to build our business on our name and reputation – and it’s all thanks to you!