It might not make the headlines, but here’s a stat that stood out to me this week:

The average homeowner who sold last quarter had owned their property for just over 8 years. That’s the longest average in at least 25 years. (Source: ATTOM)

What’s more? They still walked away with a 50% profit.

That’s right. Even with all the chatter around price fatigue, rising rates, and slower sales activity, the typical seller is still seeing returns far above the pre-pandemic norm, where 30% profit was more common.

As someone who works closely with buyers and sellers across Pickering, Ajax, Whitby, and Oshawa, I can tell you this reflects what I’m seeing on the ground. Margins have come down from the frenzy of 2021 and 2022, yes, but prices have remained impressively steady. And when you factor in long-term ownership, the gains are still very real.

This tells us a few important things:

• The market has cooled from its peak, but

• That doesn’t mean you’ve missed your window

• Long-term homeowners are still in a strong position, especially in Durham Region

In many ways, the current market shows how much values have grown over time and how well they’ve held up, even in a higher-rate environment.

Bottom line: Sellers today may not be cashing out at the absolute top, but they’re still seeing meaningful returns from years of appreciation.

Wondering what your home might be worth right now?
If it’s been more than a year since you’ve had an updated home equity report, just reply here or reach out directly. I’d be happy to prepare one for you this week. No pressure, just a clear picture of where you stand.

—Robert Turnbull
Turnbull Real Estate | Local expertise in Pickering, Ajax, Whitby & Oshawa