Once again, this month’s data showed a decline in sales year-over-year and month-over-month. However, the price of residential units sold continued to rise in both categories. 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 28% with the average sale clocking in at more than $770k. Active residential listings numbered 329 units on the market at the end of October, a considerable drop of 36.4% from the end of October 2020. Active listings haven’t been this low in the month of October 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 November 15, 2021, data gathered by the Ontario Collective based on October 2020 vs October 2021.