𝐍𝐄𝐖𝐒𝐅𝐋𝐀𝐒𝐇! Here are the real estate market stats you need to know for November 2022 vs. 2021 home sales in Toronto, Mississauga, Oakville, Burlington
📉𝐈𝐧𝐜𝐫𝐞𝐚𝐬𝐞𝐝 𝐛𝐨𝐫𝐫𝐨𝐰𝐢𝐧𝐠 𝐜𝐨𝐬𝐭𝐬 𝐫𝐞𝐩𝐫𝐞𝐬𝐞𝐧𝐭 𝐚 𝐬𝐡𝐨𝐫𝐭-𝐭𝐞𝐫𝐦 𝐬𝐡𝐨𝐜𝐤 𝐭𝐨 𝐭𝐡𝐞 𝐡𝐨𝐮𝐬𝐢𝐧𝐠 𝐦𝐚𝐫𝐤𝐞𝐭 𝐰𝐢𝐭𝐡 𝐚𝐧𝐧𝐮𝐚𝐥 𝐩𝐫𝐢𝐜𝐞 𝐝𝐞𝐜𝐥𝐢𝐧𝐞𝐬 𝐠𝐫𝐞𝐚𝐭𝐞𝐫 𝐟𝐨𝐫 𝐝𝐞𝐭𝐚𝐜𝐡𝐞𝐝𝐚𝐧𝐝 𝐬𝐞𝐦𝐢-𝐝𝐞𝐭𝐚𝐜𝐡𝐞𝐝 𝐡𝐨𝐦𝐞𝐬.
The market stats for November in the GTA represent an annual decline for the most part, however with signs that the distinct downward price trend experienced in the spring is coming to an end.
It is anticipated that with the lack of new listings hitting the market, and record immigration forecasted in the coming years, we will see a strong increase in demand for GTA real estate which will undoubtedly impact affordability and create a competitive real estate environment again.
𝗡𝗼𝘄 𝗶𝘀 𝘁𝗵𝗲 𝘁𝗶𝗺𝗲 𝘁𝗼 𝗺𝗮𝗸𝗲 𝗮 𝗺𝗼𝘃𝗲 𝘁𝗼 𝗮 𝗵𝗶𝗴𝗵𝗲𝗿 𝗽𝗿𝗶𝗰𝗲 𝗽𝗼𝗶𝗻𝘁 𝗵𝗼𝗺𝗲 𝗼𝗿 𝗶𝗻𝘃𝗲𝘀𝘁 𝗮𝗻𝗱 𝗵𝗼𝗹𝗱.
Here are our notable take away’s from November 2022’s real estate market activity 📑
◼️ All freehold home categories are down year over year.
◼️ Oakville and Burlington detached home values down 17% to last year. HUGE opportunity for those who may have been priced out of buying here last year.
◼️ Toronto condo market activity steady month over month with a slight dip to last year’s values. Mississauga condos down almost 3%, Oakville flat to last year.
◼️ Burlington condos the anomaly for November’s sales, up 12% over last year.
Be sure to view the full details of each area within our update. Click on each image to view.
𝗧𝗵𝗶𝗻𝗸𝗶𝗻𝗴 𝗼𝗳 𝗯𝘂𝘆𝗶𝗻𝗴 𝗼𝗿 𝘀𝗲𝗹𝗹𝗶𝗻𝗴 𝗶𝗻 𝘁𝗵𝗲 𝗻𝗲𝘄 𝘆𝗲𝗮𝗿? 𝗟𝗲𝘁’𝘀 𝗴𝗲𝘁 𝘁𝗵𝗲 𝗰𝗼𝗻𝘃𝗲𝗿𝘀𝗮𝘁𝗶𝗼𝗻 𝘀𝘁𝗮𝗿𝘁𝗲𝗱.
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