While June 2025 sales levels in the Centre Wellington area ended up reaching pretty much the same level as 2024, July 2025 sales once again were behind 2024 – so still no real evidence that we have reached bottom or about to turn a corner.

There is definitely no sustained momentum in the market. Year to date sales are well behind 2024 levels. Mixed economic data and continued uncertainty – and interest rates that have stopped going down – are not helping the real estate market.

Having said that, we are seeing more buyer viewing activity – which may be an early indicator that things may pick up a bit in the Fall. But I still think downward pressure on current pricing will continue in our market regardless of any possible uptick in actual sales activity in the last half of the year.

To be clear – prices are not crashing – but they have adjusted downward to be sure. This is not the type of market that we saw in the 1990’s where things went dead. We are grinding out sales in this market – it’s just slow, takes a lot of effort to get sold – and tests everyone’s patience.

If you are thinking of listing in the Fall, now is the time to start reaching out to your realtor to start the conversation. Based on discussions I’m having with sellers that have been on the sidelines to date, many are deciding they aren’t going to put off selling any longer and will be coming to market in the Fall.

Despite the overall market, I note we have seen some of the higher priced units at the Elora Mill condos sell on the resale market or get offers recently. Just an interesting observation. But the condo market in general continues to remain pretty slow.

The 3 P’s in real estate are as important as ever – type of PRODUCT, PRESENTATION and especially PRICE.

If you are trying to sell a 2-storey home in an area that has several other similar 2-storey homes for sale, your home needs to be well presented, and you have to stand out by undercutting the competition in price if you want to be the one that sells. No sense pricing the same – as you will get the same result as them – remaining UNSOLD.

As we enter the dog days of summer, things will continue to be relatively slow until we get into the first week of September and the kids get back to school. Historically we see an uptick in activity in September until the end of October.

Tough to predict in this market – but as I have said before, I think the last half of 2025 will look a lot like the first half. Unless something significant happens – which in this crazy world these days – you never know.

Enjoy the rest of your summer!

Until next month, take care.

George