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
Mississauga Real Estate Market
Oakville Real Estate Market
Burlington Real Estate Market