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Royal LePage Frank Real Estate - Independently owned & operated, Brokerage

March 8, 2024 | Market Update

February 2024 Market Update

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Momentum Builds Towards a Better Spring Market

Real estate sales increased in February, gearing up towards a solid, Spring market. Sales volume jumped 38% to 745 units from 539 units in January. On a year over year basis, sales were up 25% from 2023!

New Listings also jumped by 47% from the previous month; from 828 to 1,217 units across the Region. On a year-to-date basis, the jump was 15% compared to the same period last year. The increase in inventory presented more choice for Buyers but, with the sizeable increase in sales, the most desirable properties were getting multiple offers, mainly in the price ranges below $900,000.

 

Interest rate increases have stalled, creating optimism in the market. Buyers who sat on the sidelines for over a year want to find a home, especially with astronomically high rents showing no signs of slowing. Many Buyers have saved more money for a down payment over the past year, somewhat off setting the higher rates.

 

The Market in Durham Region sat at 1.1 Months of Inventory, down slightly from 1.4 Months in January. Average Sale Price was up slightly, from $894,825 in January to $919,017 in February and up 2% from $886,908 recorded in February 2023. Year-To-Date Total Dollar Volume really took a leap of 33% over last year, across the Region with Oshawa (42%) and Whitby (41%) leading the pack!

 

Average Days On Market also declined from 33 Days in January to 20 Days in February, showing pick-up in the pace of the market. The Average Sale Price/List Price percentage increased from 99% to 102% month over month and, the Sales To New Listing Ratio came in at 61.2%, slightly favouring Sellers and making things a bit more challenging for Buyers.

 

Momentum will continue to build. We’re busy doing Market Appraisals and Seller/Buyer consultations, so we see the action before it translates to the streets. One thing we lose sleep on is “affordability.” It’s an on-going issue at every level of government. We’d love to see an increase in Amortization Rates, allowing first-time buyers more options for affordable mortgage payments, yet no one in government is speaking to this issue.

 

If your mortgage is coming up, please get mortgage advice. Banks are offering early renewals which, in a market of future declining rates may not be the best choice for you. We can put you in touch with some excellent lenders who have your best interests at heart.

 

Reach out anytime to: team@willowsgroup.ca

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Keith Williams

Broker

Lisa C. Follows

Broker

We want to hear from you!

1.866.447.4434

team@willowsgroup.ca

Royal LePage Frank Real Estate - Independently owned & operated, Brokerage

268 Queen St.
Port Perry, ON L9L 1B9

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🏠 Losing out on homes before you even get a cha 🏠 Losing out on homes before you even get a chance to see them? That’s a sign—it’s time to talk more with your realtor.
In a fast market, speed matters. Regular check-ins = quicker showings, smarter offers, and no more missing out.

This isn’t guesswork—it’s strategy.
Watch the reel, save it, and let’s change how you buy real estate.

📲 Contact Us
Keith Williams, Broker: (905) 903-9250
Lisa C. Follows, Broker: (905) 442-5847
📧 team@willowsgroup.ca
💼 Willows Realty Group – Your Trusted Partner in Real Estate with the Power of AI

#WillowsRealtyGroup #RealEstateTips #BuyerAdvice #HouseHuntingHacks #RealtorLife #FirstTimeBuyerHelp #RealTalkRealEstate #AIListingAdvantage #SmartHomeSearch #DurhamRegionHomes #OntarioRealEstate #KeithAndLisa #FastMarketMoves #HomeBuyingTips
Dreaming of owning your first home in Durham? 🏡 Dreaming of owning your first home in Durham? 🏡 Let me break it down - let's make that dream a reality! 

1️⃣ Save for a Down Payment: You'll usually need at least 5% of the home's price. Use a simple savings app to track your progress - every dollar counts! 💰

2️⃣ Factor in Closing Costs: These can be about 1.5% of your home's price. This covers lawyer fees, land transfer taxes, and other small costs.

3️⃣ Get Pre-Approved: Talk to your bank or a mortgage broker. This will tell you how much you can afford and shows sellers you're ready to buy!

4️⃣ Budget for Monthly Costs: Understand your budget, including your mortgage, utilities, and property taxes, to know if it's sustainable in the long run.

5️⃣ Protect Your Investment: Consider insurance to cover your home and belongings from damage or theft.

At Willows Realty Group, we’ve built our reputation on helping families just like yours find their perfect home. We’re here to guide you every step of the way!

What’s your dream home feature? A cozy fireplace or a big backyard? Let us know below! 📲🔥

#RealEstate
Ready to dive into the world of homebuying but bog Ready to dive into the world of homebuying but boggled by mortgages? 🏠 Welcome to the journey! Let's break it down together. 

As someone with over 40 years in the Durham Region real estate market, I've picked up some pro tips to help you navigate this maze:

1️⃣ Fixed vs. Variable Rates: Fixed rates stay the same, great for budgeting. Variable rates go up or down. Think about your risk comfort.

2️⃣ Check Your Credit Score: A high score means better rates. Tools like Credit Karma can help you track yours! 

3️⃣ Mortgage Pre-Approval: Before house-hunting, get pre-approved. It shows sellers you're serious. 

4️⃣ Know the Terms: Understand terms like "amortization" and "interest". Knowledge is power!

Buying a home can be a big leap, but with the right tools and people by your side, it’s as easy as pie!

Got questions about the steps? Ask them below! 👇 

#RealEstate
City lights or country nights in Durham Region? 🌟🏞️ Decisions, decisions! 

After 40 years in the biz, I've seen it all and got the scoop to help choose the right spot for your family. 🏘️

🤔 Step 1: Consider Your Lifestyle!
City life = Ease of access to schools, sports centers, and events. 
Country life = Slow pace, open spaces, peace and quiet.

🚗 Step 2: Think About Commute!
How far are you willing to drive for work, school, or fun? 

🔍 Step 3: Gather Info!
Use online tools for school ratings, neighborhood vibes, and property prices.

Your perfect place in Durham is just a decision away. Want more tips or a walk-through? Comment your questions below! ⬇️

#RealEstate
📢 Approx. 67 Acres. Two Sunrooms. Endless Poten 📢 Approx. 67 Acres. Two Sunrooms. Endless Potential.

Looking for space to live, breathe, and build your future?
This 4-bedroom, 2-bath home on approx. 67 acres near Seeley’s Bay blends natural beauty with everyday convenience. From the sun-drenched kitchen to the wood-burning stove and TWO peaceful sunrooms, every corner radiates warmth and possibility.

🌾 Outside? Think rolling meadows, barns, chicken coops, a silo, detached garage, and trails ready for hobby farming or weekend adventures.

💡 Listed by A.I. Certified Real Estate Agents Keith & Lisa, this property benefits from the A.I. Listing Advantage™—strategically marketed using cutting-edge technology to get your listing seen by more qualified buyers, faster.

📍 Leeds and the Thousand Islands
📐 1,878 SqFt | 🛏 4 Beds | 🛁 2 Baths | 🚙 7 Parking Spaces

💬 Curious about the power of A.I. in real estate or ready to book a tour?

📲 Contact Us
Keith Williams, Broker: (905) 903-9250
Lisa C. Follows, Broker: (905) 442-5847
📧 keith@willowsgroup.ca | lisa@willowsgroup.ca
📞 Office: (888) 926-2066
🔗 www.willowsrealtygroup.com

💼 Willows Realty Group – Your Trusted Partner in Real Estate with the Power of A.I.

#ForSaleOntario #RuralLiving #SeeleyBayRealEstate #WillowsRealtyGroup #AIListingAdvantage #AICertifiedAgent #OntarioFarms #CountryHomeVibes #HobbyFarmDream #OntarioRealEstate #DurhamRegionHomes #BarnLife #SustainableLiving #SunroomGoals #LandForSaleOntario #YourNextHome
🌸 Thinking of Selling This Spring? Don’t Wait 🌸 Thinking of Selling This Spring? Don’t Wait Until the Tulips Bloom.
The best spring sales start with smart winter prep—and that window is wide open now.
From pricing strategies to A.I.-powered marketing plans, we don’t just list your home—we position it to stand out and sell.
🏠 Why wing it when you can win it—with expert guidance and real results?

📞 Let’s map out your move, before everyone else jumps in.

📲 Contact Us
Keith Williams, Broker: (905) 903-9250
Lisa C. Follows, Broker: (905) 442-5847
📧 keith@willowsgroup.ca | lisa@willowsgroup.ca
📍 Willows Realty Group – Your Trusted Partner in Real Estate with the Power of AI
🔗 www.willowsrealtygroup.com

#ThinkingOfSelling #SpringMarketPrep #WillowsRealtyGroup #DurhamRegionHomes #OntarioRealEstate #RealEstateTips #ListWithConfidence #HomeSellingStrategy #AICertifiedAgent #SellSmarter #RealEstatePlanning #PortPerryRealtor #HomeSellerGuide #RealEstateEdge #AIListingAdvantage
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