As we get deeper into the holiday season let’s take a look at how the Market is looking. We saw a large decrease in sales activity where November sales were down 29% compared to 2021. For a few months in a row now, active listings continued to surge, across our communities we saw 211% rise in active listings. There’s lots of opportunities for Buyers right now but don’t forget that seller’s are still getting top dollar for their properties. Although prices are down (7.3%), it’s important to remember that, year to date, the average sale price is up 8.1% compared to this point last year.
In our local communities, we saw the active listing trends continue, a lot more inventory in Penetanguishene with a huge 433% increase and in Tiny with a 304% increase. We also saw large inventory increases in Penetang and Tay throughout November. Prices stayed fairly consistent compared to last year with very minimal decreases In Midland. Across our other communities, we saw larger decreases. However, it’s important to note that there were limited sales to base this information off – Sales Activity was down almost 30% across the region. As we head into the new year, we expect a re-balancing of the market to continue with more opportunities for buyers but also attractive sales prices for sellers.
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 December 8th, 2022, data gathered by the Ontario Collective based on November 2021 vs November 2022.
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