What to Expect from the "Spring Market"
What to Expect from the "Spring Market"
Every year as the winter wraps up and the spring season starts to bloom, there’s a buzz in the real estate industry about the “Spring Market.” But what does it mean and why do realtors and homebuyers look forward to it?
The spring season presents a dynamic mix of opportunities for both buyers and sellers. Longer days and better weather stimulate a flux of activity on the market—sellers have spent the winter months preparing to list and buyers have been waiting in the wings.
But there’s more to a spring market than just favourable weather conditions and improved curb appeal. Market conditions including supply and demand and ever-changing interest rates play a role in what is thought to be the most active housing market of the year.
Benefits of Buying and Selling in the Spring
Increased Demand: Many buyers start their home search in the spring, leading to higher demand. Families with children often want to move before the new school year, and the warmer weather encourages more people to attend showings and open houses. For buyers, this can mean more options coming on the market as inventory increases to meet the demand, and for sellers, it can mean more offers at competitive price points.
Better Curb Appeal: Spring flowers, green lawns and brighter days make homes look more inviting. Improved curb appeal can help create a great first impression.
Longer Days, More Showings: With extended daylight hours, buyers have more opportunities to view homes after work, increasing the number of showings and potential offers.
Faster Sales: Homes tend to sell faster in the spring compared to other seasons, as more buyers are actively looking and making decisions quickly.
More Time to Settle Before Winter: Buying in spring means moving in late spring or early summer, allowing time to settle in, make improvements and enjoy outdoor spaces before winter arrives.
What to Expect in Durham & Northumberland
Northumberland is seeing a balanced market with a healthy inventory, especially at higher price points. This gives buyers more options, while sellers can take comfort in stable pricing in many areas. A key driver? Buyers from Durham and the GTA are looking east for more affordable opportunities. On top of that, with the Bank of Canada’s benchmark rate now down to 3.00% (from 5.00%), we could see increased buyer activity as affordability improves.
Durham is set for steady growth in 2025, thanks largely to falling interest rates. Lower borrowing costs will likely bring more first-time buyers into the market, increasing demand for entry-level homes like townhouses and condos. Prices are expected to rise by 5% over last year, creating a competitive but balanced market.
What It Means for You
Overall, Ontario’s housing market is forecasted to grow, with home prices expected to rise by 4.4% nationally. For both buyers and sellers, staying informed on local trends—like mortgage rates and regional developments—will be key to making the best move this spring!
Thinking about buying or selling? Let’s chat!
Amy Marquis
REALTOR®
289.314.4854
