Christmas has come and gone and 2022 is full swing. Looking back on last year, we saw an incredibly strong Sellers market. Firstly, focussing on December, across the region we saw 116 sales logged which was down 23% on this time last year, most likely due to the real lack of inventory on the market. In December, we saw active listings are down 13% compared to 2020. Inventory is still incredibly low – down more than 82% compared to pre pandemic numbers. This has continued the 2021 theme of low inventory. With less options on the market, we continue to see house prices rise as the new average house price sits at $823,520 – up around 26%. As we transition through winter and into the new year, buyers will become even more motivated so expect to see prices continue to rise.
Across our communities, we saw these trends continue. Tiny’s average price rose 63% compared to last year whilst Tay’s average price edged towards the $600k mark at $598k. 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 January 11, 2022, data gathered by the Ontario Collective based on December 2020 vs December 2022.
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