Cambridge Market Update for December 2024

Below, you will find a Cambridge Market Update for December 2024, which will provide information on the local real estate market and recent sales activity in your area. Don’t hesitate to contact us if you have any questions or if you are ready to move forward with the next step!

December 2024

Cambridge Market Update for December 2024

The Numbers

As we wrap up the year, the Cambridge real estate market has been experiencing its usual seasonal cooldown. Home sales dipped in November and December, with a 15% decline in the number of homes on the market compared to October. Despite the slowdown, the average sales price remained steady month-over-month, showing resilience in property values.

Interest Rates

In exciting news for buyers, the Bank of Canada announced a 50-basis-point cut to the overnight rate—the fifth rate reduction this year—with indications of more to come in 2025. This creates an even more attractive environment for variable-rate mortgages, making it a great time to enter the market.

For Buyers
The early months of the new year could present a golden opportunity to secure a home before the market heats up in the spring.

For Sellers
If you’re planning to sell or upgrade in 2025, now is the time to prepare your home. A well-prepared property ensures you can act quickly and take full advantage when the market gains momentum.

As we head into the new year, I want to wish you and your family a joyful holiday season and a prosperous 2025. If real estate is on your mind—even during the holidays—don’t hesitate to reach out. My team and I are always here to help!