The September national median price stood at $ 781,000 , reflecting a 2.1 per cent increase month-on-month , though still down 2.3 per cent year-on-year . While the annual decline aligns with the typical seasonal trends , the month-on-month uptick signals a slight but positive shift . “ This stability , along with moderate decreases in price compared to last year , suggests a market in balance ,” Baird said .
“ Though we are seeing year-on-year declines , they are within expected ranges , confirming the market is behaving predictably .”
Source : REINZ
Sales activity in September totalled 5,816 properties , which was 3.3 per cent lower than the previous month and 1.1 per cent down from the same time last year . Despite this , the number of properties listed for sale in September rose by 1.5 per cent month-on-month and 27.4 per cent year-on-year , signalling a growing supply of opportunities for buyers .
“ Local real estate professionals are noting higher-than-usual attendance at open homes , even outside the typical spring surge ,” Baird said . “ In fact , seven out of 16 regions are seeing a rise in sales activity , with more buyers engaging and enquiring about listings . If interest rates continue to decrease and market sentiment improves , these trends could evolve into a more robust and active market in the months ahead .”
With the prospect of more favourable financing conditions and ongoing price stability , the outlook for 2025 is cautiously optimistic . Real estate professionals are watching closely for any signs of further improvement , which could mark a shift into the next gear of a more balanced and dynamic market .
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