In my humble opinion, we are now seeing a more balanced market. Yes, Average Selling Prices continue to rise however, there is more choice for the buyers now. Here are your April Market Results for the GTA and Burlington markets. Oakville and Milton will follow in a few days.
BURLINGTON MARKET RESULTS
The Burlington market experienced a 31.2% decrease in sales activity when compared to April 2021. The number of new listings increased by a minimal 4.7%. For the Average Selling Price and more information on the Burlington results, please click here.
G.T.A. APRIL RESULTS
The Average selling Price, $1,254,436, was up by 15% compared to April 2021, but down compared to the Average Selling Price of $1,300,082 in March of 2022.
"Despite slower sales, market conditions remained tight enough to support higher selling prices compared to last year. However, in line with TRREB's forecast, there is evidence of buyers responding to increased choice in the marketplace, with the average and benchmark prices dipping month-over-month, It is anticipated that there will be enough competition between buyers to support continued price growth relative to 2021, but the annual pace of growth will moderate in the coming months." said TRREB Chief Market Analyst Jason Mercer.