The inventory is here at last! Buyers have been crying out for more inventory and the spring market has begun to provide. Across our communities we’ve seen a 29% rise in active listings. It’s been a lack of inventory that has been driving up prices, so this news will be welcomed by the many buyers looking. However, inventory is still incredibly low – down more than 48% 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 in the high $800’s – up around 13%.
In our local communities, we saw these trends continue, a lot more inventory in Midland with a huge 60% increase. We also saw large inventory increases in Tiny and Tay throughout April. Prices are still continuing to rise in our area with the biggest in Tiny. Tiny’s average price rose 29% compared to last year whilst also breaking the $1m mark for average pricing. There are starting to be more options for all those hungry buyers but overall our community is still lacking the amount of inventory to match the buyer’s desires. 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 May 12th, 2022, data gathered by the Ontario Collective based on April 2021 vs April 2022.