Is the RE Market shifting?
IMPORTANT MARKET UPDATE
Based on March Market stats & what we are experiencing in today’s market, here are some notable changes to consider:?
GTA REALTORS® reported 10,955 sales through TRREB’s MLS® System in March 2022, representing 30% compared to the record result of 15,628 in March 2021.?
While sales were year-over-year for all major market segments, condominium apartment transactions dipped by a much lesser annual rate.?
HOW THIS AFFECTS YOU?
The market remains competitive, with the average sale price and growth year over a year still in double digits.?
With interest rate changes and government initiatives taking a more serious approach towards housing, SUPPLY will continue to set the tone for the overwhelming demand on our RE market; it still remains a #sellersmarket?
This gradual softening and simultaneous increase in units for sale mean some opportunity to secure a property with SLIGHTLY less competition.?
Statement by TRREB President Kevin Crigger:?
“Now is the time for governments to govern and focus on PROVEN measures to increase housing supply. The GTA population will experience rapid growth in the coming years as our region’s economic strength and diversity continue to attract people from around the world. To sustain this growth, we need adequate housing supply and choice. This needs to be the focus of policymakers rather than SHORT-TERM and ineffective measures to suppress demand ARTIFICIALLY. ?
Whether you are considering Buying or Selling in this market, a strategic action plan is necessary for success. That’s where we deliver results!?
Please reach out for further details on our current housing market and how this affects YOU.?