2024 Market Outlook
To our past and current clients, we are deeply thankful for your business and support throughout 2023. Your trust in us has been the cornerstone of our success, culminating in our position as the leading real estate team in Haliburton County. Your loyalty motivates us to provide top-notch expertise and dedication.
Looking ahead to 2024, we eagerly anticipate a new collaborative journey with you. As we strive to expand our reach and serve new clients, rest assured, that our dedication to delivering exceptional service remains unwavering.
Thank you for being an integral part of our story. Please know that we are here for you, ready to assist in making your real estate dreams a reality.
- Linda Baumgartner
In 2023, the Ontario real estate market faced challenges, such as housing shortages and increased interest rates. However, despite these conditions, Canadians have maintained a positive outlook on homeownership. According to the RE/MAX Canada 2024 Housing Market Outlook Report, a significant 73% of Canadians continue to view homeownership as a secure and wise investment, a sentiment that has persisted year after year.
As we look to the future, the RE/MAX network of brokers and agents anticipates a slightly more active market in 2024. National average residential sale prices are expected to experience growth, and unit sales are projected to increase. It is important to note that interest rates will continue to dictate the outcome of the housing market.
The current season is witnessing a surge in motivated buyers eager to make their purchases ahead of the spring market. There is renewed confidence about interest rate holds and the prediction of reductions coming this year.While the rate of house price appreciation moderated in 2023 when compared to the previous year, it is crucial to highlight that property values continue to remain at elevated levels.
The opportune moment to consider selling your property is when there is limited competition, and buyer demand is pent-up. Presently, the market's inventory remains at historical low levels and there are still many buyers eager to enter into the market.
