Auburn Bay Real Estate Market Summary – January 2025

Overall Market Performance

• Total Residential Sales: 22 units (-15% Y/Y)

• New Listings: 32 units (-22% Y/Y)

• Sales-to-New Listings (S/NL) Ratio: 0.69 (a more balanced market)

• Inventory: 34 active listings (+17% Y/Y)

• Months of Supply: 1.55 months (up from last year but still indicating a seller’s market)

• Days on Market (DOM): 31 days (slightly higher than previous months)

• Benchmark Price: $633,300 (+3.1% Y/Y)

• Median Price: $596,250 (+72.6% Y/Y)

• Average Price: $633,649 (+37.1% Y/Y)

• Sales-to-List Price Ratio (SP/LP): 99.0% (homes are selling close to asking price)

Market Breakdown by Property Type

Detached Homes

• Sales: 12 units (no change Y/Y)

• New Listings: 11 units (-31% Y/Y)

• Inventory: 12 units (-31% Y/Y)

• S/NL Ratio: 1.00

• Months of Supply: 1.00 (tight market, favoring sellers)

• Benchmark Price: $812,000 (+7% Y/Y)

📌 Trend:
Detached home prices continue to rise due to strong demand, but the lower supply may limit transaction volume.

Semi-Detached Homes

• Sales: 6 units (N/A – no data for last year)

• New Listings: 4 units (+100% Y/Y)

• Inventory: 1 unit (-50% Y/Y)

• S/NL Ratio: 0.17

• Months of Supply: 0.17 (extreme seller’s market)

• Benchmark Price: $528,200 (+8% Y/Y)

📌 Trend:
With extremely limited supply, semi-detached homes are in very high demand, leading to continued price appreciation.

Row/Townhomes

• Sales: 4 units (-50% Y/Y)

• New Listings: 8 units (-20% Y/Y)

• Inventory: 7 units (stable Y/Y)

• S/NL Ratio: 0.50

• Months of Supply: 1.75 months (indicating a shift toward a balanced market)

• Benchmark Price: $461,000 (+6% Y/Y)

📌 Trend:
The slowdown in sales and increased inventory has eased price growth pressure, stabilizing the row home market.

Apartment Condos

• Sales: 0 units (-100% Y/Y)

• New Listings: 9 units (-31% Y/Y)

• Inventory: 14 units (stable Y/Y)

• S/NL Ratio: N/A

• Months of Supply: N/A

• Benchmark Price: $364,100 (+4% Y/Y)

📌 Trend:
No apartment sales were recorded in January, suggesting weakened demand and an oversupplied market, which may lead to price stagnation or slight declines in the coming months.

Key Market Trends & Takeaways

1. Tight supply for detached and semi-detached homes is driving prices up, particularly in the under $1M price range.

2. Row homes are approaching a balanced market, with inventory keeping price growth in check.

3. Apartment condos continue to struggle, with an oversupply and no sales recorded in January.

4. Overall, the Auburn Bay market remains strong, with price appreciation in most segments.

5. Buyers have more options compared to last year, as inventory levels have improved slightly.

Conclusion

• Detached and semi-detached homes remain in high demand, pushing prices upward.

• Row homes are stabilizing, while the condo market faces challenges due to oversupply.

• Overall, Auburn Bay's market is still a seller's market, but trends suggest a gradual shift toward more balanced conditions.

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