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June 2024 Market Report

June 2024 Market Stats

As the spring market comes to a close, activity has seemed to calm. Although the numbers appear to have slightly reversed, there are some things to note before sounding the alarm.

- June saw 8 less sales and 50 less listings compared to May with only a $3,000 decline to the month-over-month Avg. Sale Price now sitting at $571,952.

- June typically sees a slowdown in activity heading into the summer. The end of the school year being one of the main contributors.

- Finally the first rate was cut by the Bank of Canada from 5% to 4.75%. This has brought a temporary sigh of relief and led some to hit the pause button on purchasing as experts have alluded to further cuts in the near future as early as July.

- Although mortgage rates are slowly decreasing, rates still remain high for the many that are coming up for renewal, posing a real challenge to consumers whose payments will increase substantially. This is also posing a problem for lenders with the growing number of defaulted payments. If you have defaulted on any payments, feel that you will, or your upcoming renewal will set you back, please reach out to us or contact your mortgage broker immediately to see your available options and to put a plan in motion.

- Depending on where you stand, this may look gloomy. For others, they see opportunity, even with higher rates, as prices are relatively lower. Making a move now could save you a considerable amount vs. purchasing when rates are much lower and prices have drastically risen, not to mention less competition. **This is not for everyone and would depend on your current financial status and needs for it to make sense.

Have questions or just curious, let's talk. It all starts with a conversation!

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Local Events

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38 York Blvd. Kingsville, ON

Extraordinary custom-designed 3600sf modern 2 sty farmhouse is the newest creation to be built by luxury renowned home builder, Wescon Builders. Meticulously designed with endless amounts of detail & upgrades throughout.

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3073 Alexander Ave. Windsor, ON

8+1 Bed | 4 Bath

HUGE POTENTIAL awaits the new owner of this rare West-Windsor opportunity! Featuring up to 9 bedrooms, 4 bathrooms, and 2 kitchens, the prospective rental income for this property is absolutely incredible! Situated on the quiet, historic street of Alexander amongst beautiful and timeless architecture, just a short distance away from the University of Windsor, Detroit Bridge, and all amenities, this hidden gem is a must-see!

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1097 Marentette Ave. Windsor, ON

3 Bed | 2 Bath

This enchanting home is situated in the heart of Windsor's Little Italy. Just steps away from Erie Street-offering vibrant shops, markets, gym, & many fantastic restaurants. This 1 3/4 story home exudes timeless elegance in every room, original trim, doors & dark hardwood floors. Updated kitchen with stone countertops with lots of natural light. Enjoy hosting dinner parties in large open kitchen to dining room with views of the backyard. This property includes 3 spacious bedrooms and 2 full baths. Relax on the large covered front porch, perfect for morning coffee or evening relaxation. Updated electrical, plumbing, 18 windows, newer high-efficiency furnace, central air (2018). Parking for 2 cars in rear. New privacy fence (2023) ensures a secluded and peaceful environment. Don't miss the opportunity to own this classic home in a prime location!

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Client Testimonial

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"Our experience with Matt Buschman and the entire team at Synergy Real Estate Group has been top-notch. Could not ask for better communication and attention to the details of the sale. From our initial interview through the final offer, we were impressed with Matt and his team of professionals. Every home sale is unique and Matt treated us right from the start. Excellent photos, excellent marketing, which of course leads to excellent results. Highly recommend Matt Buschman and the Synergy Real Estate Group."