The trends of previous months continued in May as we saw the stabilization of the market continue. Moving forward into the Summer market we expect to see the next phase of growth and recovery. For the third month in a row, over 200 properties were sold in our community during the month proving that there are plenty of opportunities for both Buyers and Sellers alike. The average sale price is down around 10% compared to 2022 however, worth noting that compared to pre pandemic numbers, we’re still seeing a 80% increase.
In our local communities, we saw prices drop across the board. We are still seeing more than 26% increases in Active Listings which is helping the prices continue to even out after the highs of the market in the spring of 2022. There’s lots of opportunities for everyone so give us a call today!
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 June 9th, 2023, data gathered by the Ontario Collective based on May 2022 vs May 2023.