After I wrote the headline for this article, I started thinking about how many times I’ve used words like “uncertain” and “unpredictable” over the past number of months. Quite a few as it turns out.

Which begs the question: Is uncertainty the new normal? Perhaps. We might want to get used to it.

We have to stop thinking things happen in a linear fashion. Interest rates start going down – and the real estate market starts to gain momentum. Not so fast. There are a lot of bumps and twists and turns along the way.

Last year when it seemed the real estate market was coming to life in October and November, predictions of a market rebound started to hit the headlines and every realtor on TikTok started to exclaim “Buy while you can – pricing will go through the roof in 2025!” Wrong.

Even without tariff talk and 5-foot snowbanks, I felt 2025 was going to get off to a slower start. It was certainly true in January. But frankly, local February real estate sales were even less than expected.

Can we put all the blame on a good old fashioned Canadian winter? I don’t think so. There is more to this story – and “uncertainty” plays a big role. Whether all this tariff terror comes to actual fruition or not doesn’t matter – just all the talk of it has thrown a bit of a curveball into our economy and consumer sentiment.

Unsurprisingly, certain industries are very concerned. Will the average home buyer see a big impact in the short term? Maybe not. Longer term – probably. That’s where uncertainty starts to creep in – and thus it’s not only the cold winter that starts to freeze the decision making of buyers.

The number of real estate listings have started to spike in larger markets like Toronto, Vancouver and Ottawa, and while we haven’t seen what I would call a “spike” in our market, there is no doubt a lot of new listings will hit the local market in March as we would historically expect.

So – sellers are returning to the market – the question is – will buyers return to the market? We are about to find out.
Now, before you think I’m turning “bearish” and believe things are about to fall off a cliff, that is not the case. While I am admittedly somewhat concerned and believe there are increased downside risks, I continue to predict sales activity will end up higher in our market by the end of 2025 vs 2024 and pricing will remain largely flat.

What does all this really mean? Well, homes are still going to be bought and sold. But a lot of the activity will be homes that show A+ / A or stand out or are unique in their price point, whereas C and D homes that need work or need updating are going to especially struggle in this market. Even homes I rate as a B are going to take longer to sell.

Yes, broken record time – price it right! I’ll even go a step further – unless your home is an A+/A, it will take aggressive pricing in this market to get sold. And let me be clear – waiting until later this year isn’t going to get you a better result. It will be increasingly important that you hire a full-time experienced realtor that can market and negotiate.

The good news – better weather is on the way soon. Some good economic news would be nice too – but patience might be required on that front.

Looking for honest, straightforward real estate advice? Call me anytime at 519-766-3716.

Until next month, take care.

George