I hope the snow and cold isn’t keeping you from working toward your goals this year! Definitely a snowy one! The market is also a bit colder these days, especially compared to the joys of 2021-2022.
2025 was a correction year, and right now we’re experiencing that period of decline that we knew was coming when the sharp spikes of 2021-2022 happened. This is normal! Don’t let the headlines freak you out!
We’ve had this before, and will likely have these periods again in the future. Just like we’ll have periods of values increasing again too! Markets work in rollercoaster cycles of up and down!
And guess what! It looks like we’re approaching the light at the end of the rocky tunnel!
The drops in prices from month to month have been slowing! We’re also approaching the values we would’ve likely been priced at if the pandemic and value spikes it caused never happened. We’ve seen an increase in transactions too! On top of this, interest rates are expected to hold steady for the time being.
So what does this mean?
We’re about to hold steady. I do disagree with some experts who have forecasted moderate price increases for Niagara. But I do believe activity is about to increase.
Real estate works long-term, not short term.
Over the long term, real estate has grown in value. It remains a great investment that allows you to save/build equity for your future. I’m like a broken record when I tell people this! Just check out the long-term line showing property values. It may drop every now and then, but it’s still going up!
BENCHMARK PRICES:
(Data Source: CREA MLS HPI Dashboard)
Benchmark prices reflect the sale/purchase price of a typical home in an area while removing outliers. This is why they’re so great for tracking market trends – especially over the long-term! You don’t want a luxury $2M home skewing your average in a $500K neighbourhood if you’re trying to understand where the market’s going!
LEASE PRICES:
Here’s what’s happening with leases and the percentage change vs last year:
OTHER KEY STATS:
I’m launching a pilot program called the Real Estate Matchmaker!
If you’re interested in co-ownership of any type of multi-unit property (duplex, triplex, etc.) and don’t like to share space or have roommates, this program could help you! It’s a great way to start owning and building equity you can use in the future, especially if you can’t get approved on your own and saving on top of rent is a challenge! It works for residential OR commercial properties too (even mixed-use!). I’ve even got a network of professionals in law and finance who can help us get it done!
Shoot me an email if you’re interested, or check out https://popovichre.ca/matchmaker/