Ontario Real Estate Market Report – June 2022
Our monthly Real Estate Market Report is a helpful guide if you are considering buying a home, an investment property, or selling your home; it will provide you with the most updated data to help you make an informed decision.
Why is Now a Great Time to Buy a Home?
Even though it’s still a sellers’ market in many areas, it is still a great time to purchase a home. With fewer buyers in the market, you can negotiate a better offer on the property you desire. You will have more negotiating power regarding price because there will be fewer competitors and fewer bidding wars. In addition, homes are staying longer on the market, and buyers can now include home inspection and financing clauses in their offers. Higher interest rates are returning the real estate market to a more fair playing field for everybody.
MLS® Residential Housing Market as of June 2022
The figure below displays the market update for Brampton, Caledon, Mississauga, Burlington, Milton, Oakville, Toronto, Hamilton, and St. Catharines, along with changes from June of the previous year.
*Disclaimer: These numbers are for June 2022 and are based on what is currently listed on the MLS®.
Real Estate Market Report Overview (Year Over Year)
The Ontario Real Estate market has slowed dramatically due to a significant decline in sales activity. The number of units sold has decreased, but the average sales price has climbed year over year, which may give some confidence to people selling their homes and purchasing new ones.
If you are thinking of selling or purchasing a home in the near future, feel free to contact us for help and sound advice on listings and market trends in your area.