The spring market is here and we’ve seen a slight shift in the market. In March, we saw that active listings across our communities are up over 17% compared to 2021. 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 61% compared to pre pandemic numbers. With less options on the market, we continue to see house prices rise as the new average house price edges towards the $1Million mark – up around 30%.
Across our communities, we saw these trends continue, however we are starting to see more listings come to market. Tiny’s average price rose 21% compared to last year whilst also breaking the $1m mark for average pricing. Midland saw a 19.8% raise in average pricing but also a 42% hike in active listings. 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 April 3rd, 2022, data gathered by the Ontario Collective based on March 2021 vs March 2022.