Cambridge Market Update for January 2024

Below you will find a Cambridge Market Update for January 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!

Cambridge Market Update for January 2024

The Cambridge real estate market is gaining momentum this January, marked by an upswing in property showings and offers. Consequently, we witnessed a 49% increase in sales compared to last January and a 40% surge from December.

Despite this activity, the average sale price has remained relatively stable, experiencing only a 1% decrease from December. The current trend suggests a positive shift despite a 14% decline in home sales in 2023.

Looking ahead, I foresee a steady price rise in the upcoming months. However, a potential game-changer may occur in quarter 2, as the Bank of Canada is expected to reduce interest rates. A decline in interest rates could prompt hesitant buyers to re-enter the market, potentially causing prices to escalate more rapidly.

For those with the means, it might be strategic to consider purchasing sooner rather than later. I’m Trish Lewis with GoWylde Real Estate, and if you have any inquiries about the real estate market, feel free to reach out to me.