WELCOME TO THE ABTEM SEPTEMBER BLOG!

WILL THIS AUTUMN BE TRULY A “FALL” MARKET?

As the data inside will show, we are currently experiencing a downward cycling market and it will take a lot more than a Bank of Canada 25 basis point drop in the overnight rate to course correct. Why is our local market getting hit so hard? So much of it is the current economic climate in Canada; unemployment is at its highest levels (if you remove the anomaly of the pandemic from the equation) in almost a decade, and the Canadian economy is simply not doing great due to the trade war, interest rates at numbers that truly restrict economic growth, and inflation concerns.

But it’s a story of geography too. For countless years, the Durham Region, and specifically Oshawa, represented the most affordable housing within a commutable distance to Metropolitan Toronto. It was our claim to fame. Pre-pandemic, we were starting our rise to more commensurate price levels with the other GTA communities to the west and north; our new home developments and brisk construction starts were especially helpful in the bid to be more price relative. But it was slow and steady. A creeping; not a leaping. The pandemic fast tracked that equalization in what felt like a nanosecond, so that now, we compete on a mostly level playing field, 
giving buyers the opportunity to throw their nets far and wide, and to not always select our beautiful region, which also happens to have, unfortunately, some of the highest property taxes in the GTA...

Today, our local real estate market is in turmoil, no question. There is no quick fix, no magic bullet to turn this around in the next 6 weeks. It will take time to dig out of the hole we are in. Thankfully, much of the downward pressure on pricing only carries truly negative consequences for those who bought during the peak of the pandemic and are trying to sell now.

For most households, their real estate values are resilient, with solid equity accumulated over the years of ownership. And when trading within the same market conditions, the negative elements currently at play affect them nominally, if at all. Your sale becomes relative to your buy, and the ratios, in these markets, tend to favour the move up buyer most. In simple terms, it’s a tremendous time to level up.

For a comprehensive analysis of the market and how it affects you directly, just give us a call and let’s chat. Our commitment is to go beyond your expectations of what an agent should do; it’s to build a trusted relationship with you that can facilitate your long term, wealth building goals. 80% of the world’s wealthiest people built their fortunes on real estate; we seek to ensure that you number among them.

THE MONTH OF AUGUST IN REVIEW:

In August, the Durham Region Association of REALTORS reported 676 residential sales in the Durham Region, down 21% or 176 sales, from July, when 852 sales were reported, and down 5% or 33 sales, from the 709 sales of August 2024. Year-to-date, our sales volume is down 11% from 2024, with just 5,668 homes selling so far this year.

The average selling price in the Durham Region for the month of August was $860,951, down $24,308 or 2.5% from July, when the average sale was $885,259. Year-over-year, August 2025 was down $47,046 or 5% from the $907,997 average sale price of August 2024. Year-to-date we are down 4% from 2024, with an average sale price so far for 2025 of $895,381.

After a conservative upward trajectory that began in January and peaked early in April, August 2025 represents the fourth consecutive month of decline. We will be watching closely to see how the fall market unfolds.

The amount of new listing inventory coming onto the market in August was 1,675 units -- down 18.5% or 383 units -- from the 2,058 new offerings added in July, but up 70 units, or 4.5%, from August 2024, when 1,605 new listings entered the market. Year-to-date we are up 13% in the number of listings coming onto the market compared to 2024. These numbers are a little misleading however, as they do not account for the large amount of
terminated, expired and suspended properties, and then the re-listing of same, that we are currently witnessing. Year-to-date 15,101 residential listings in Durham Region have entered the MLS market.

The average days on market for August rose to 27 days. The average days on market, year-to-date, sits at 22.

The average Sale Price to List Price Ratio (SP/LP) for all properties sold in August was 98%. Year-to-date, the average SP/LP is 100%.

The current Months of Inventory factor rose to 4 for the month of August, indicating a heavily saturated marketplace – the highest factor we have seen in years! The Sales to New Listing Ratio (SNLR) for the month of August settled at 40.4%, just out of buyer’s market territory. Typically, ratios between 40% and 60% reflect market balance, with anything below that range suggesting a market that favours buyers and anything above it, a market that benefits sellers. This time last year, the SNLR was sitting at 44.2% with the Months of Inventory factor at 3.1. These two metrics illustrate a subtle shift
that we will be closely monitoring as we enter the fall market.

The Durham Region saw a dollar volume in sales of $582,002,662 in August -- making the year-to-date total 14% lower than the previous year-todate. Oshawa led the way, with a volume of almost $137.5 million, making Oshawa’s total 17% lower year-to-date than 2024, with its average sale price down 5% year-to-date. Whitby placed an honourable second at almost $119 million, down 17% year-to-date, with its average sale price down 5%
year-to-date. Rounding out the top 3, Clarington posted almost $98.5 million, with a year–to-date decrease of 16% and an average sale price loss of 2% year-to-date.

INDUSTRY STATS FOR AUGUST:

Durham Region: $860,951
Oshawa: $747,282
Clarington: $793,715
Whitby: $972,305
Scugog: $894,895
Ajax: $893,972
Pickering: $913,648
Uxbridge: $1,202,325
Source: CLAR

AVERAGE PRICE BREAKDOWNS INDUSTRY STATS FOR AUGUST:

The average detached dwelling sold for $963,001 at 98% of list price in 28 days. 438 units sold.
The average semi-detached dwelling sold for $739,692 at 101% of list price in 18 days. 52 units sold.
The average link dwelling sold for $769,882 at 99% of list price in 14 days. 17 units sold.
The average freehold townhouse sold for $753,235 at 100% of list price in 25 days. 78 units sold.
The average condominium apartment sold for $485,950 at 97% of list price in 36 days. 40 units sold.
The average condominium townhouse sold for $594,818 at 99% of list price in 29 days. 50 units were sold.
Source: CLAR

RE/MAX CANADA: TRENDS IN THE DURHAM REGION HOUSING MARKET - Released September 3, 2025

Average sales prices across all property types are anticipated to drop by five per cent through the end of 2025. Number of sales are also expected to decline slightly, by an estimated three per cent. This outlook is primarily shaped by buyer hesitancy, and while steady demand from families and retirees provides some stability, affordability constraints, economic uncertainty, and a slower pace of sales continue to put downward pressure on both prices and activity.

In Q4 2024, the Durham Region housing market remained a buyer’s market, marked by high inventory and steady demand – a trend expected to continue through year-end. Market conditions have remained consistent with last year’s, with ample listings providing greater choice for buyers. Homes are on the market longer than they would be in a seller’s market, signaling a balanced climate for both buyers and sellers.

Families are the main drivers of housing demand in the region, a trend expected to continue through to the end of the year. Retirees are also drawn to the region for its quiet areas and flexible range of downsizing options which still offer good proximity to essentials and amenities.

The biggest challenge in the region is economic uncertainty, which is keeping many buyers on the sidelines and slowing overall activity. Sellers, many of whom entered the market with high price expectations based on past conditions, are now facing a smaller pool of qualified buyers. As listings sit longer and competition increases, more sellers are beginning to adjust their pricing and negotiation strategies to align with current market realities.

Buyer hesitation also remains a defining feature of the market, with many weary of sitting on the sidelines but still cautious about entering the market. The profile of the first-time buyer continues to shift upward, now averaging in the late thirties – a reflection of both affordability challenges and prolonged saving periods. Increasingly, financial support from parents or shared ownership arrangements have become less of an exception and more of a necessity for entering the market. For existing homeowners, uncertainty around sales outcomes are adding another layer of tension, reinforcing a climate where confidence is slow to return.

CURB APPEAL TIPS FOR SELLING A HOME THIS FALL:

The lazy, hazy days of summer are making way for a busy fall market with just as much (if not more) sales-inducing mojo to offer home sellers. With summer vacations in the rear-view mirror, the crisp autumn air gives homebuyers new incentive to find that perfect house to snuggle into before the snow starts to fly. Here are some season-sensitive tips to make sure your home stands out for all the right reasons.

Clean Up Yard

Get that rake and move those newly fallen leaves off the lawn. Making sure buyers can see the potential of a summer garden is a big selling point. Cut back bushes and dead flowers, make sure vegetation isn’t blocking any windows or paths. Also, check for any trees that have grown up with the warm weather and are now blocking views or sunlight.

Plant Fall Flowers

Boosting autumn-time curb appeal starts with few strategically placed planters filled with flowering fall favourites such as chrysanthemums, marigolds and mini sunflowers. They come in yellows, oranges, reds and browns and instantly brighten up walkways, steps, window boxes and doorways. A grouping of seasonal gourds by the front steps wouldn’t go amiss either.

Wash Those Windows

After a summer of hot, dusty days and warm breezes, windows can start to look filmy and streaked, and window screens are clogged with dirt and unlucky insects. You may not notice the buildup since it happened over a few months, but buyers will. Dig out that power washer or hire a window-washing company to tackle the job and get those windows sparking clean. It is well worth the investment.

Top Notch HVAC

The furnace probably hasn’t been used all summer so now’s the time to have it looked at by a specialist and prepped for winter use. A potential buyer will have an inspector look at it anyways so it’s better to fix any potential problems prior to the house going on the market. Before anyone steps foot through the door, you’ll want the air flowing through the home smelling fresh and the heating system doing its job.

Squeaky Clean Fireplace

A wood-burning fireplace is on a lot of buyers’ must-have list – but they want one they can light up the day they get the keys. Get the chimney professionally cleaned and scrub down the stove and brickwork. As soon as you list the house, hold off on lighting it and instead set up a display of attractive logs, large pinecones or pillar candles.

Open House Details

Fall is a favourite time for many people so when you do open your doors, make sure they get a season’s greeting. Before they arrive, simmer hot apple cider on the stove to fill the house with a welcoming scent, then fill up a thermos and put out paper cups so visitors can sip on cider while they tour your tastefully staged rooms. Fill a bowl with fresh apples and set out a tray of ginger cookies for potential buyers to take home as a sweet reminder of how much they love fall – and would love to buy your home.

SEPTEMBER DATES TO REMEMBER:

SEPTEMBER 21 - INTERNATIONAL DAY OF PEACE

SEPTEMBER 22 - FIRST DAY OF FALL

SEPTEMBER 25 - NATIONAL DAUGHTER'S DAY

SEPTEMBER 28 - NATIONAL SON'S DAY

SEPTEMBER 29 - NATIONAL COFFEE DAY

SEPTEMBER 30 - NATIONAL DAY FOR TRUTH AND RECONCILIATION

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!