Housing Market Prices Leveling?

Housing Market Prices Leveling?

Market Snapshot - April 2022

Seeing more for sale/sold signs last month? March's numbers are in and evidence of an increase of inventory has helped make a level playing field for Buyers. When a surge of new listings hit the market, demand is satisfied and, in most cases, prices are affected. In March we've seen some properties on the market longer than expected with Buyers having more selection to choose from. An increase in listings paired with the BoC's rise in the overnight rate, has shown a bit of short-term easing in market conditions.

Average prices in Toronto & Hamilton, compared to February, have leveled with a slight decline of -0.38% / -0.92% respectively. Further decrease's have been posted in Mississauga -3.56% / Milton -3.34% / Brampton -2.6% / Burlington at -11% and Muskoka Region -8.7%. Oakville posted an increase of +4.84%.

“Competition between home buyers in the GTA remains very strong in most neighbourhoods and market segments. However, we did experience more balance in the first quarter of 2022 compared to last year. If this trend continues, it is possible that the pace of price growth could moderate as we move through the year,” said TRREB Chief Market Analyst Jason Mercer.

I'll keep you posted on how the market fairs in the coming months. In the meantime, CLICK HERE for the full report on these and other regions. If you're looking for in-depth stats for your neighbourhood, reach out and I'll be happy to update you.

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