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Toronto and West GTA Real Estate Market Update – April 2022

May 6, 2022 | Market News

𝐍𝐄𝐖𝐒𝐅𝐋𝐀𝐒𝐇! Here are the real estate market stats you need to know for April 2022 vs. 2021 home sales in Toronto, Mississauga, Oakville, Burlington 📈

⁣⁣𝐓𝐫𝐚𝐧𝐬𝐚𝐜𝐭𝐢𝐨𝐧 𝐯𝐨𝐥𝐮𝐦𝐞 𝐝𝐨𝐰𝐧 𝐨𝐧 𝐚 𝐦𝐨𝐧𝐭𝐡𝐥𝐲 𝐚𝐧𝐝 𝐚𝐧𝐧𝐮𝐚𝐥 𝐛𝐚𝐬𝐢𝐬𝐡𝐨𝐰𝐞𝐯𝐞𝐫 𝐚𝐯𝐞𝐫𝐚𝐠𝐞 𝐡𝐨𝐦𝐞 𝐩𝐫𝐢𝐜𝐞𝐬 𝐚𝐫𝐞 𝐮𝐩 𝐲𝐞𝐚𝐫 𝐨𝐯𝐞𝐫 𝐲𝐞𝐚𝐫.

We’ve experienced a slow down in selling activity and it’s contributed to a few factors:

◻️ Higher borrowing costs have some Buyers taking a pause from their home search to see if the market will adjust/prices soften.

◻️  Purchase capability (budget) may have changed for some Buyers with the higher interest rates, along with possible impact on the down payment for their purchase if they have an existing property to sell, as their current home’s market value may have adjusted.

⁣⁣◻️ More inventory on the market = greater selection for Buyers resulting in less competition which had largely impacted previous price growth.

What we are seeing is that even though there is more abundant inventory, many are homes that are not presented well, not as desirable in terms of the overall style, finishes, state of repair, etc.

𝙄𝙛 𝙮𝙤𝙪𝙧𝙚 𝙖 𝙎𝙚𝙡𝙡𝙚𝙧 𝙞𝙩𝙨 𝙘𝙧𝙞𝙩𝙞𝙘𝙖𝙡 𝙩𝙤 𝙚𝙣𝙨𝙪𝙧𝙚 𝙮𝙤𝙪𝙧 𝙝𝙤𝙢𝙚 𝙞𝙨 𝙥𝙤𝙨𝙞𝙩𝙞𝙤𝙣𝙚𝙙 𝙩𝙤 𝙗𝙚 𝙩𝙝𝙚 𝙘𝙡𝙚𝙖𝙧 𝙘𝙝𝙤𝙞𝙘𝙚 𝙩𝙤 𝙖𝙩𝙩𝙧𝙖𝙘𝙩 𝙖 𝘽𝙪𝙮𝙚𝙧𝙨 𝙞𝙣𝙩𝙚𝙧𝙚𝙨𝙩 – invest in making it more appealing in terms of current aesthetics, and be sure to set it apart from the rest with home staging, superior marketing and presentation.

Have a realistic expectation on price. The list price strategy should reflect what’s happening at this time, not where the market was in January/February 2022. 

𝗧𝗵𝗲 𝘀𝗶𝗹𝘃𝗲𝗿 𝗹𝗶𝗻𝗶𝗻𝗴 𝗶𝘀 𝘁𝗵𝗮𝘁 𝗵𝗼𝗺𝗲 𝘃𝗮𝗹𝘂𝗲𝘀 𝗮𝗿𝗲 𝘂𝗽 𝘆𝗲𝗮𝗿 𝗼𝘃𝗲𝗿 𝘆𝗲𝗮𝗿 – so let’s not get caught up in gloom and doom because the sales volume is down.

We are going back to a more balanced market, which is nothing to be afraid of. Homes may take longer to sell, yes. What’s most important is selling for what today’s top dollar would be and to attract a solid, qualified Buyer to ensure a smooth closing.

View the full details of each area within our update ➡️ swipe or click on each image to view.⁣⁣

Whether you’re considering buying or selling it’s important to have a knowledgeable Realtor on your side to help navigate our current market conditions. ⁣

Get in touch anytime and let’s chat about your goals. ⁣

𝗪𝗲 𝘄𝗼𝘂𝗹𝗱 𝗹𝗼𝘃𝗲 𝘁𝗼 𝗵𝗲𝗹𝗽 𝗮𝗻𝗱 𝗮𝗿𝗲 𝗳𝗼𝗰𝘂𝘀𝗲𝗱 𝗼𝗻 𝘆𝗼𝘂𝗿 𝘀𝘂𝗰𝗰𝗲𝘀𝘀!⁣⁣

Toronto Real Estate Market

Mississauga Real Estate Market

 

 

Oakville Real Estate Market

 

Burlington Real Estate Market

 

Toronto and West GTA Real Estate Market Update – March 2022

Apr 11, 2022 | Market News

𝐍𝐄𝐖𝐒𝐅𝐋𝐀𝐒𝐇! Here are the real estate market stats you need to know for March 2022 vs. 2021 home sales in Toronto, Mississauga, Oakville, Burlington 📈

𝗧𝗵𝗶𝗿𝗱 𝗯𝗲𝘀𝘁 𝗠𝗮𝗿𝗰𝗵 𝗮𝗻𝗱 𝘀𝗲𝗰𝗼𝗻𝗱 𝗯𝗲𝘀𝘁 𝗳𝗶𝗿𝘀𝘁 𝗾𝘂𝗮𝗿𝘁𝗲𝗿 𝗼𝗻 𝗿𝗲𝗰𝗼𝗿𝗱!

Although it was the third best March on record, home sales volume across the Toronto Regional Real Estate Board in March accounted for a 30% decline compared to the record result in March 2021.

Market conditions remain tight however Buyer competition is currently less fierce than it was a year ago.

𝙒𝙝𝙖𝙩𝙨 𝙝𝙖𝙥𝙥𝙚𝙣𝙞𝙣𝙜 𝙞𝙣 𝙤𝙪𝙧 𝙢𝙖𝙧𝙠𝙚𝙩 𝙞𝙨 𝙣𝙤𝙩 𝙖 ‘𝙤𝙣𝙚 𝙨𝙞𝙯𝙚 𝙛𝙞𝙩𝙨 𝙖𝙡𝙡 ‘ 𝙨𝙮𝙣𝙤𝙥𝙨𝙞𝙨 𝙖𝙘𝙧𝙤𝙨𝙨 𝙩𝙝𝙚 𝙗𝙤𝙖𝙧𝙙 

Depending on the neighbourhood, area, price point and type of product, some homes are still selling with multiple offers or the day of list on a pre-emptive offer, whereas others with an offer date strategy are not selling at their intended target resulting in re-listing the property at a ‘buy it now’ price.

𝗔𝗹𝘁𝗵𝗼𝘂𝗴𝗵 𝘁𝗵𝗲 𝘃𝗮𝗹𝘂𝗲𝘀 𝗮𝗿𝗲 𝘂𝗽 𝘆𝗲𝗮𝗿 𝗼𝘃𝗲𝗿 𝘆𝗲𝗮𝗿, what’s interesting to note is the change in the average sold price for detached homes in the one month time frame between February to March 2022:

◻️ Toronto detached average price in March vs. February of this year is down $153,971. 

◻️ Mississauga detached average price in March vs. February of this year is down $164,373. 

◻️ Oakville detached average price is flat month to month.

◻️ Burlington detached average price in March vs. February of this year is down $174,541. 

This suggests a couple of things: a case of being better supplied with inventory and less Buyer competition/demand resulting in a lower average selling price, and/or fewer homes sold in a higher price point/luxury category which would elevate the average price.

See the full details of each area within our update ➡️ swipe or click on each image to view.⁣

⁣⁣Whether you’re considering buying or selling it’s important to have a knowledgable Realtor on your side to help navigate our current market conditions.

We are very experienced when it comes to a changing real estate market and will provide you with the best possible personalized advice and support. ⁣Get in touch anytime and let’s chat about your goals.

Toronto Real Estate Market

Mississauga Real Estate Market

Oakville Real Estate Market

Burlington Real Estate Market

Toronto and West GTA Real Estate Market Update – February 2022

Mar 9, 2022 | Market News

𝐍𝐄𝐖𝐒𝐅𝐋𝐀𝐒𝐇! Here are the real estate market stats you need to know for February 2022 vs. 2021 home sales in Toronto, Mississauga, Oakville, Burlington 📈

𝗦𝗲𝗰𝗼𝗻𝗱 𝗵𝗶𝗴𝗵𝗲𝘀𝘁 𝗙𝗲𝗯𝗿𝘂𝗮𝗿𝘆 𝘀𝗮𝗹𝗲𝘀 𝗼𝗻 𝗿𝗲𝗰𝗼𝗿𝗱!

As per the Toronto Real Estate Board’s February Market Watch update, ‘February home sales were down compared to the all-time record in 2021, but represented the second-best result for the month of February in history. New listings dropped, but by a marginally lesser annual rate than sales, pointing to a modest move to a slightly more balanced market. Competition between buyers, however, remained tight enough to support double-digit price growth year-over-year.’

Toronto, Mississauga, Oakville and Burlington experienced very impressive gains for the February 2022 stats in the average property value year over year across all home types. 

Toronto detached home sales were up 23% year over year, a more modest amount compared to the others in our report.

Burlington and Oakville were up an incredible 31% for detached homes and Mississauga not far behind with just under 27% increase for detached year over year.  

Although listing inventory remains in short supply, more homes are starting to hit the market providing greater selection for buyers and reducing the frenzy of competition in some neighbourhoods. Keep in mind that each area however is on a case by case scenario and the market trend and activity cannot be generalized as it varies based on the location, price point, type of product and other competing inventory.

Whether you’re considering buying or selling it’s important to have a knowledgeable Realtor on your side to help navigate our current market conditions. 

Get in touch anytime and let’s chat about your goals. 𝗪𝗲 𝘄𝗼𝘂𝗹𝗱 𝗹𝗼𝘃𝗲 𝘁𝗼 𝗵𝗲𝗹𝗽 𝗮𝗻𝗱 𝗮𝗿𝗲 𝗳𝗼𝗰𝘂𝘀𝗲𝗱 𝗼𝗻 𝘆𝗼𝘂𝗿 𝘀𝘂𝗰𝗰𝗲𝘀𝘀!

 

Toronto Real Estate Market

Mississauga Real Estate Market

Oakville Real Estate Market

Burlington Real Estate Market

Toronto and West GTA Real Estate Market Update – January 2022

Feb 11, 2022 | Market News

𝐍𝐄𝐖𝐒𝐅𝐋𝐀𝐒𝐇! Here are the real estate market stats you need to know for January 2022 vs. 2021 home sales in Toronto, Mississauga, Oakville, Burlington 📈

𝗟𝗼𝘄𝗲𝘀𝘁 𝗻𝘂𝗺𝗯𝗲𝗿 𝗼𝗳 𝗹𝗶𝘀𝘁𝗶𝗻𝗴𝘀 𝗶𝗻 𝘁𝘄𝗼 𝗱𝗲𝗰𝗮𝗱𝗲𝘀!

Listing inventory remained in short supply as we began the year with the lowest amount of homes for sale in the past two decades. Very strong price growth, however, resulted in the second-best January on record.  

The cities in our report began the year with phenomenal gains on the average selling price as compared to January 2021. The average price for a detached home in Toronto was up 19% to just under $1.9m, Mississauga detached up 32% to over $1.95m, Oakville detached up 32% to just under $2.5m (this figure is up almost $400,000 from December!) and Burlington detached up 23% over last year and up $200k over December at $1.82m.

All home types in Mississauga gained at and around a 30% increase in value making this the most consistent result in our report. 

Oakville experienced price gains ranging between 20-43% depending on home type. Burlington continues with remarkable increases across the board ranging from 32 – 52%, the latter being the price growth for Burlington condos. 

If you’re thinking of selling, take advantage of our current market conditions. There’s no way to predict what will happen as the year progresses, however, the critical state of inventory coupled with Buyer demand is going to keep fuelling the price growth. This is the time to have a conversation about your goals and to put together a timeline in preparing your home for sale. 

If you’re thinking of buying, let’s chat about your goals and affordability in today’s market as this could be quite different a few months from now. Let’s get you on track for a successful home purchase within the timeline that suits your needs best. We are here to help every step of the way, always at your pace and in your best interests.

➡️ See the full details of the market activity by home type within our update – swipe or click on each image to view.⁣

Whether you’re considering buying or selling, get in touch anytime. We would love to help! 𝙒𝙚 𝙖𝙧𝙚 𝙛𝙤𝙘𝙪𝙨𝙚𝙙 𝙤𝙣 𝙮𝙤𝙪𝙧 𝙨𝙪𝙘𝙘𝙚𝙨𝙨!

 

Toronto Real Estate Market

Toronto Real Estate Market Update Jan 2022

 

Mississauga Real Estate Market

Mississauga Real Estate Market Update Jan 2022

 

Oakville Real Estate Market

Oakville Real Estate Market Update Jan 2022

 

Burlington Real Estate Market

Burlington Real Estate Market Update Jan 2022

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