This month’s data showed a decline in sales year-over-year, down 24% compared to last December. However, the price of residential units sold continued to rise, now sitting at $854,437 which is a 29% rise compared to last year. This evidences that, the supply of homes still cannot keep pace with the demand right now.
Year over year we’re seeing a raise in Sale Prices of over 29% with the average sale clocking in at more than $948k for 2021 – a new record. Active residential listings numbered 136 units on the market at the end of December, a considerable drop of 42% from the end of December 2020. Active listings haven’t been this low in the month of November in more than 25 years.
As prices rise and the theme of low inventory continues, now is the 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 January 11, 2022, data gathered by the Ontario Collective based on December 2020 vs December 2021.