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Toronto and West GTA Real Estate Market Update – April 2022

May 6, 2022 | Market News

๐๐„๐–๐’๐…๐‹๐€๐’๐‡! Here are the real estate market stats you need to know for April 2022 vs. 2021 home sales in Toronto, Mississauga, Oakville, Burlington ๐Ÿ“ˆ

โฃโฃ๐“๐ซ๐š๐ง๐ฌ๐š๐œ๐ญ๐ข๐จ๐งย ๐ฏ๐จ๐ฅ๐ฎ๐ฆ๐žย ๐๐จ๐ฐ๐งย ๐จ๐งย ๐šย ๐ฆ๐จ๐ง๐ญ๐ก๐ฅ๐ฒย ๐š๐ง๐ย ๐š๐ง๐ง๐ฎ๐š๐ฅย ๐›๐š๐ฌ๐ข๐ฌ,ย ๐ก๐จ๐ฐ๐ž๐ฏ๐ž๐ซย ๐š๐ฏ๐ž๐ซ๐š๐ ๐žย ๐ก๐จ๐ฆ๐žย ๐ฉ๐ซ๐ข๐œ๐ž๐ฌย ๐š๐ซ๐žย ๐ฎ๐ฉย ๐ฒ๐ž๐š๐ซย ๐จ๐ฏ๐ž๐ซย ๐ฒ๐ž๐š๐ซ.

โฃWeโ€™ve experienced a slow down in selling activity and itโ€™s contributed to a few factors:

โ—ป๏ธย Higher borrowing costs have some Buyers taking a pause from their home search to see if the market will adjust/prices soften.

โ—ป๏ธย  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 homeโ€™s market value may have adjusted.

โฃโฃโ—ป๏ธย 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.

๐™„๐™›ย ๐™ฎ๐™ค๐™ชโ€™๐™ง๐™šย ๐™–ย ๐™Ž๐™š๐™ก๐™ก๐™š๐™งย ๐™ž๐™ฉโ€™๐™จย ๐™˜๐™ง๐™ž๐™ฉ๐™ž๐™˜๐™–๐™กย ๐™ฉ๐™คย ๐™š๐™ฃ๐™จ๐™ช๐™ง๐™šย ๐™ฎ๐™ค๐™ช๐™งย ๐™๐™ค๐™ข๐™šย ๐™ž๐™จย ๐™ฅ๐™ค๐™จ๐™ž๐™ฉ๐™ž๐™ค๐™ฃ๐™š๐™™ย ๐™ฉ๐™คย ๐™—๐™šย ๐™ฉ๐™๐™šย ๐™˜๐™ก๐™š๐™–๐™งย ๐™˜๐™๐™ค๐™ž๐™˜๐™šย ๐™ฉ๐™คย ๐™–๐™ฉ๐™ฉ๐™ง๐™–๐™˜๐™ฉย ๐™–ย ๐˜ฝ๐™ช๐™ฎ๐™š๐™ง๐™จย ๐™ž๐™ฃ๐™ฉ๐™š๐™ง๐™š๐™จ๐™ฉย – 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 whatโ€™s happening at this time, not where the market was in January/February 2022.ย 

๐—ง๐—ต๐—ฒย ๐˜€๐—ถ๐—น๐˜ƒ๐—ฒ๐—ฟย ๐—น๐—ถ๐—ป๐—ถ๐—ป๐—ดย ๐—ถ๐˜€ย ๐˜๐—ต๐—ฎ๐˜ย ๐—ต๐—ผ๐—บ๐—ฒย ๐˜ƒ๐—ฎ๐—น๐˜‚๐—ฒ๐˜€ย ๐—ฎ๐—ฟ๐—ฒย ๐˜‚๐—ฝย ๐˜†๐—ฒ๐—ฎ๐—ฟย ๐—ผ๐˜ƒ๐—ฒ๐—ฟย ๐˜†๐—ฒ๐—ฎ๐—ฟย – so letโ€™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. Whatโ€™s most important is selling for what todayโ€™s top dollar would be and to attract a solid, qualified Buyer to ensure a smooth closing.

โฃView the full details of each area within our update โžก๏ธย swipe or click on each image to view.โฃโฃ

Whether youโ€™re considering buying or selling itโ€™s important to have a knowledgeable Realtor on your side to help navigate our current market conditions. โฃ

โฃGet in touch anytime and letโ€™s chat about your goals. โฃ

๐—ช๐—ฒย ๐˜„๐—ผ๐˜‚๐—น๐—ฑย ๐—น๐—ผ๐˜ƒ๐—ฒย ๐˜๐—ผย ๐—ต๐—ฒ๐—น๐—ฝย ๐—ฎ๐—ป๐—ฑย ๐—ฎ๐—ฟ๐—ฒย ๐—ณ๐—ผ๐—ฐ๐˜‚๐˜€๐—ฒ๐—ฑย ๐—ผ๐—ปย ๐˜†๐—ผ๐˜‚๐—ฟย ๐˜€๐˜‚๐—ฐ๐—ฐ๐—ฒ๐˜€๐˜€!โฃโฃ

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