Uxbridge Housing November 2024

Each office is independently owned and operated.

Housing Market Report for November 2024

Here is the Region of Durham Housing November 2024 report (all housing types), with reports from the Canadian Real Estate Association, and Toronto Regional Real Estate Board included.

This housing report for Durham Region includes the number of new listings, average list price, number of properties sold, average selling price, average days on market and average asking price to selling price ratio for all property types within the Region of Durham.

^{Scroll to the bottom for links to take you to the housing market reports for Uxbridge, Scugog and Brock.}

COMING SOON

GTA REALTORS^® Release November 2024 Stats

Greater Toronto Area (GTA) home sales increased strongly on a yearover-year basis in November 2024. Many buyers benefitted from more affordable market conditions brought about by lower borrowing costs. New listings were also up compared to November 2023, but by a much lesser annual rate. This meant that market conditions tightened, resulting in overall average price growth compared to last year.

“As we approach the end of 2024, I am pleased to report an improvement in housing market conditions. Many home buyers patiently waited on the sidelines for reduced inflation and lower borrowing costs. With selling prices remaining well off their historic peak and monthly mortgage payments trending lower, the stage is set for an accelerating market recovery in 2025,” said Toronto Regional Real Estate Board (TRREB) President Jennifer Pearce.

GTA REALTORS^® reported 5,875 home sales through TRREB’s MLS^® System in November 2024 – up by 40.1 per cent compared to 4,194 sales reported in November 2023. New listings entered into the MLS^® System amounted to 11,592 – up by 6.6 per cent year-over-year. On a seasonally adjusted basis, November sales were up month-overmonth compared to October.

The MLS^® Home Price Index Composite benchmark was down by 1.2 per cent year-over year in November 2024 – a much lesser annual rate of decline compared to previous months. The average selling price was up by 2.6 per cent compared to November 2023 to $1,106,050. Year-over-year average price growth was greater than that for the HPI Composite benchmark because of a greater weighting of detached home sales compared to last year. On a seasonally adjusted basis, the average selling price edged slightly lower compared to October.

“Market conditions have tightened, particularly for single-family homes. The detached market segment experienced average annual price growth above the rate of inflation, particularly in the City of Toronto. In contrast, the condominium apartment segment continued to experience lower average selling prices compared to a year ago. Condo buyers are benefitting from a lot of choice and therefore negotiating power. This will attract renter households into homeownership as borrowing costs trend lower in the months ahead,” said TRREB Chief Market Analyst Jason Mercer.

While the rental market will remain relatively well-supplied as more renters transition to homeownership, expect rental demand to pick up as population growth remains high. The rental market could strengthen for both tenants and landlords by reducing the backlog of cases at the Landlord and Tenant Board (LTB).

“Reforming the LTB to make it faster and fairer will go a long way to getting more individuals and families into homes they can afford,” said TRREB CEO John DiMichele.

Toronto Regional Real Estate Board – Market Stats At A Glance – November 2024

Read the Toronto Regional Real Estate Board Market Watch Report

Township of Uxbridge Full Report

The Township of Uxbridge’s real estate market in November 2024 experienced notable growth in average sales price, driven in part by sales of higher-value rural properties. The average sales price surged to $1,271,969, marking a 5.41% increase from November 2023’s $1,206,714 and a significant 32.8% jump from October’s $958,056. This increase was influenced by the sale of four rural properties priced between $1,535,000 and $2,900,000. Detached homes averaged $1,439,167, reflecting the township’s continued appeal for high-value properties. The sale-to-list price ratio was 98%, indicating a balanced negotiation climate.

Total sales for November reached 16, slightly below October’s 18 but above the 14 transactions in November 2023. New listings decreased to 37 from 44 last month, remaining consistent with the 34 new listings a year ago. Properties spent an average of 62 days on the market, while months of inventory edged up slightly to 5.38, positioning the market at the upper limit of balanced territory. This suggests a steady but competitive environment for both buyers and sellers.

November 2024