The real estate market is constantly shifting, and the final months of 2024 were no exception. Our team at R.W. Dyer Realty has taken a closer look at the Q4 – real estate statistics to highlight key trends and data that could impact your real estate decisions. With a focus on local insights, we aim to provide a valuable overview to help you understand where the market stands today.
This quarter, the we are looking deeper into the following areas of South-Western Ontario:
- Cambridge
- Kitchener
- Waterloo
- Guelph
- Brantford
- Woodstock
- Paris
- Ayr
- Stratford
One of the best ways to understand the health of a real estate market is to understand if it is a Buyer’s, Seller’s or Balanced real estate market. But what does that mean?
- Balanced Market: When the number of homes for sale is roughly equal to the number of buyers, it’s a balanced market. Prices are stable, and neither buyers nor sellers have a significant advantage.
- Buyer’s Market: This happens when there are more houses for sale than there are buyers. Buyers have more options, so sellers may need to lower prices or offer incentives to attract buyers.
- Seller’s Market: This occurs when there are more buyers than available houses. Sellers have the upper hand, often receiving multiple offers and being able to set higher prices.
To gain a broader perspective on how the market has evolved over the year, be sure to check out our detailed reports from previous quarters linked below.:
- 2024 – Q3 – July | August | September – Click Here
- 2024 – Q2 – April | May | June – Click Here
- 2024 – Q1 – January | February | March – Click Here
- 2023 – Q4 – October | November | December – Click Here
- For older statistics, please visit The Dish.
Q4 – Real Estate Statistics – Cambridge, Ontario
With 52.4% of homes sold, real estate in Cambridge ended Q4 at the low end of a Seller’s market. The average sale price for detached homes, semis and towns did see a decrease this quarter, however apartment style condominiums had an increase.
Q4 – Real Estate Statistics – Kitchener, Ontario
With 41% of homes sold, Kitchener ended Q4 once again in a balanced real estate market. On the positive side, year-over-year, detached homes, semis and towns had an increase in the average sale price although the list to sale price ratio was down slightly compared to the same period a year ago.
Q4 – Real Estate Statistics – Waterloo, Ontario
With 30% of homes sold, Waterloo ended Q4 in 2024 in a balanced real estate market. Waterloo had the highest average sales price for a detached home this quarter.
Q4 – Real Estate Statistics – Guelph, Ontario
With 45.6% of homes sold, Guelph climbed back into a Balanced Market to end Q4. Detached listings saw an increase in their average sales price however semis & towns and condo apartments had a decrease.
Q4 – Real Estate Statistics – Brantford, Ontario
With 36.2% of homes sold, Brantford climbed into a balanced market to end Q4. Average sale prices were up across the board as well which is good news for home sellers.
Q4 – Real Estate Statistics – Woodstock, Ontario
With 42.8% of homes sold in Woodstock, real estate in the city crept back into a Balanced Market to end Q4. Sales were up significantly compared to 2023 and Semis & Towns saw the highest increase in average sale price with 14.4%. Detached homes were also up compared to the same time last year however condo apartment prices were down.
Q4 – Real Estate Statistics – Paris, Ontario
With a 37.9% of homes sold, the town of Paris found itself in a Balanced Market to end Q4. There was an increase in average prices for condo apartments as well as semis & towns, however detached properties had a decrease. Sales were up compared to 2023 however which is nice to see.
Q4 – Real Estate Statistics – Ayr, Ontario
With only 9.9% of homes sold, the village of Ayr was solidly in a Buyer’s Market at the end of Q4. With only 19 properties sold in the quarter, the average days to sell increased by 16 days compared to 2023. Although it is true that detached home prices had an increase this quarter, the average price for semis & towns went down and there were no condo sales over the 3 month period.
Q4 – Real Estate Statistics – Stratford, Ontario
Similar to what happened in Cambridge, Stratford bounced back into a Seller’s Market to end Q4 with 52.1% of homes sold. Sales are up and so is the average price for detached, semi-detached and townhomes. Stratford was the only location to see a drop down for the average days to sell this quarter as well.
What about the real estate market in your neighbourhood?
City-wide real estate statistics does not always translate to what is happening in your neighbourhood or style of home. One of our sales representatives would be happy to crunch the numbers in your area and help you understand your home value. Give us a call at 519-653-5353 today!
And be sure to tune into our social media channels for weekly updates on real estate statistics every Friday through our Facebook, and Instagram pages.
Statistics have been compiled by R.W. Dyer Realty Inc., Brokerage through the Cornerstone Association of REALTORS® Multiple Listing Service (MLS).