August Recap & What to Expect This Fall
September is here and for a lot of you that means back to work, back to school and hopefully for Real Estate, back to a normal market.
At least we have seen a break in the heat and an increase in rain for our poor grasses and gardens. Undoubtedly this has been a difficult season for a lot of our local farmers.
Now that people are back to normal routines, we have already seen an increase in phone calls and booked showings on listings. It is too early to tell but, here at Team Ballas, we are optimistic looking forward to the fall market.
Remember we also have a rate announcement scheduled for 17 September and the thought is that the Bank of Canada Rate will reduce by 0.25%.
That said, it is not surprising that the numbers for August have been one of lowest this year. I attribute the slowdown to several factors.
Summer months are traditionally slower for Real Estate. People take vacations and are usually more active with kids and family. Real Estate tends to take a back seat.
The HEAT. The heat seemed to take the life out of more than just the grass and gardens. It was overwhelming at times. Air quality was poor and people just didn’t want to leave their air-conditioned homes.
Market uncertainty. The looming tariffs, increases in the cost of living and a somewhat negative perception of the real estate market in general undoubtedly affected consumer confidence.
When looking at the statistics for the month of August 2025, it is evident to me that each market shifted more to a Buyer’s market.
A balanced market is characterized by approximately 3 to 4 months of inventory.
More than 4 months of inventory represents a Buyers market which means longer market times, homes sitting and stronger negotiating power for Buyers.
As in most cases, homes are still selling but Buyers are looking for VALUE and/or unique properties.
Without getting into too much detail, EVERY single community we service went up in “months of inventory”, pushing things further into a Buyer’s market.
Less sold properties in every region except for Brighton where the number of sold properties rose from 17 to 19.
Overview
Overall, there was only a small change in average sale price for the month with some areas going up a bit and others going down a bit but this had little effect on the average sale price for the year.
In most cases the yearly average only changed by a couple thousand dollars.
To put things in perspective
Even the shift was slight in nature and did not show dramatic changes in any of the areas that we assess Real Estate.
It is important to note that even if the Bank of Canada rate changes on September 17th, I do not think this will cause a significant change in home prices.
If anything, a reduction will give some Buyers the motivation to potentially “get off the proverbial fence” if they have been delaying on getting into the Real Estate Market.
Lower rates also will help with Investors as lower rates mean less fixed operating costs and more return on their investments.
Rentals have remained strong with stability in pricing and demand, as an alternative for a difficult Real Estate Market.
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