Uxbridge Real Estate Update – March 2023

Real estate activity in Uxbridge, Ontario for March 2023 showed a slight decrease in the average selling price of homes compared to March of the previous year. The average selling price for a home in Uxbridge in March 2023 was $1,329,780, which is a 9.6% decrease from the previous year’s average selling price of $1,470,730.

There were a total of 25 home sales in March 2023, compared to 37 in March of the previous year, indicating a decrease of 32%. This decrease in home sales can be attributed to a variety of factors, including economic uncertainty, changing interest rates, and the ongoing COVID-19 pandemic.

The number of new listings in March 2023 was 43, compared to 45 in March of the previous year, which is a slight decrease of 4.4%. This decrease in new listings could be a sign that homeowners are choosing to hold onto their properties, potentially due to the lower average selling price.

The sales-to-listing ratio for March 2023 was 58%, a significant decrease from the previous year’s ratio of 82%. This means that fewer homes are being sold compared to the number of homes that are being listed for sale. A lower sales-to-listing ratio could be a sign that buyers have more negotiating power in the market, potentially leading to lower prices or more favorable terms.

Overall, the real estate market in Uxbridge, Ontario for March 2023 showed some signs of slowing down compared to the previous year. While the average selling price decreased slightly and the number of new listings decreased slightly, the decrease in home sales and sales-to-listing ratio could indicate that the market is becoming more favorable to buyers but sellers in certain price ranges are experiencing quick sales close to, at or over-asking in less than a week.

Reach out to know how much your home is worth in today’s market.