I'm not even sure how that happened, because I was so intent on slowing down and ENJOYING July. Whether July is a month for you to slow down and unwind, or the busiest month of your year, I truly hope it was everything you wanted and needed.

As for Real estate, we have seen our first two interest rate decreases in four years! I think this is going to add a lot of optimism back into the market, especially for the buyers.

There are three more rate announcements in 2024, and like many, I am eager to see what they bring. While everything has gotten so expensive over the last few years, houses have actually decreased in price on average by 9-10% (Based on the average sale price of homes in the city of Peterborough).

When comparing April 2022 to July 2024, the average purchase price has decreased by $69,000.00, and down payment amount by $7,000.00. That's a lot less money needed up front, and a much lower mortgage amount.

The other beautiful piece of being a buyer right now, you have lots of inventory to choose from, and time to think. Time to include conditions in your offer to protect yourself right out of the gate.

With about 50% of homes listed on MLS making it to “sold” in June and July, you might wonder as a seller how this can work for you? The Reynolds Real Estate team knows how to stand out and attract buyers in this beauty pageant called “a slow market”, trust me.

There are a few main pieces to the puzzle that we would be happy to discuss with you when you feel the time is right. The best time to buy or sell real estate is when you're ready.

As for August, I am hoping for a few more heat waves, my vegetable garden to continue bursting at the seams, and to enjoy some extra time with my family and friends. After all, summer is ALWAYS over before we know it, so the best thing we can do is be present.