As we entered the new year, there were many questions we faced. Will the market continue? Will prices keep going up? In January, we saw active listings are down 5% compared to 2021. Inventory is still incredibly low – down more than 79% compared to pre pandemic numbers. With less options on the market, we continue to see house prices rise as the new average house price sits at $996,345 – up around 36%. The first indication of the new year is that these trends look to continue.
Across our communities, we saw these trends continue. Tay’s average price rose 60% compared to last year whilst Penetang and Tay’s average price edged over the $1m mark. With low competition, it’s still a great time to take advantage of the market and achieve maximum price for your property.
Trust your local experts to guide you through the process and take advantage of the current market. Ask us about our FREE Home Market Analysis to determine exactly how much your Home is worth in today’s Market.
All data correct as of February 11, 2022, data gathered by the Ontario Collective based on January 2021 vs January 2022.