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RealEdge: Real Estate Insights

Your Insider's Guide to Canadian Real Estate

An investment in knowledge pays the best interest.

Benjamin Franklin

Good morning,

Welcome to RealEdge! We're thrilled to have you join us on this journey through the Canadian real estate landscape. As your trusted source for actionable insights, market trends, and expert tips from industry insiders, RealEdge is here to give you the edge you need to succeed in this ever-changing market.

If at any time you feel RealEdge no longer meets your needs, you can unsubscribe via the link at the bottom of this email. However, we’re confident you’ll find tremendous value in the curated insights we bring directly to your inbox.

In Today’s Newsletter

  • Canadian Real Estate Market Update

  • GTA and Durham Region Market Insights

  • Mortgage Renewal Projections for 2025

  • Key Market Trends and Real Estate News

  • Referral Program and Conclusion

🇨🇦 Canadian Real Estate Market Update

The Canadian real estate market continues to evolve, with recent data showing significant shifts:

  • The national average home price in Canada reached $656,625 in October 2024, marking a 1.8% increase year-over-year.

  • Sales activity has seen a 5.3% uptick compared to the same period last year, with 38,725 units sold across Canadian housing markets.

  • New listings have increased by 3.7%, indicating a slight improvement in inventory levels.

💬 GTA and Durham Region Market Insights

Greater Toronto Area (GTA):

  • Home sales surged by 40.1% year-over-year in November 2024, with 5,875 transactions reported.

  • The average selling price climbed to $1,106,050, reflecting a 2.6% increase year-over-year.

  • New listings saw a 6.6% uptick, although market conditions remain tight for single-family homes.

Durham Region:

  • The average home price in December 2024 reached $969,297, a 12.6% increase from December 2023.

  • Homes are selling at 99.8% of the list price, highlighting fierce competition.

  • Days on Market (DOM) now average 28.6, with inventory levels down to 4.7 months.

💰️ Mortgage Renewal Projections for 2025

Canadian homeowners renewing their mortgages in 2025 face a new reality:

  • RBC projects an average monthly payment increase of $513 for renewing clients.

  • Keep in mind that we have another Interest rate announcement On Wednesday, December 11, 2024 with keep players projecting a rate decrease.

  • This is due to higher interest rates since the last renewal period.

  • Homeowners are encouraged to consult financial experts to prepare for these changes.

Technology Integration

  • Virtual reality home tours and blockchain-based real estate transactions are revolutionizing the industry.

Sustainability Focus

  • Buyers are increasingly seeking energy-efficient homes, with the government's green initiatives further driving demand for sustainable properties.

Regional Shifts

  • While Toronto and Vancouver remain affordability challenges, Montreal, Calgary, and Halifax are emerging as attractive markets for buyers and investors.

Bank of Canada Rate Cut

  • On October 23, the Bank of Canada cut its overnight rate to 3.75%, boosting consumer confidence. Watch out for Dec 11th.

We hope you found today’s insights valuable! RealEdge is committed to keeping you informed and ahead in the Canadian real estate market.

Stay tuned for next week’s edition, where we’ll dive into emerging investment opportunities and highlight top-performing neighbourhoods across Canada.

See you next week!
The RealEdge Team