March 2022
It was a busy time for many as the grip of the pandemic has begun to ease and our daily lives slowly start to get back to a new normal
The average price of all home types in the GTA is now almost $1.3 million, $1,299,894 to be exact..
We still need more homes to sell
The residential real estate market has begun a slight shift as fewer homes traded during the month of March due to rising interest rates and a recent increase to the foreign buyer tax.
Even with fewer homes trading throughout the month prices still rose by 18% compared to the same month last year.
Condominium sales were also down compared to last year. Again with limited inventory prices increased by almost 20% compared to last March.
The average cost of a condo in the GTA is now $808,566.
New home sales have also been very active with many new projects, primarily condominium developments, launching all over the GTA throughout the first quarter of 2022
If you are looking to learn more about the buying and investing opportunities new construction presents, please do not hesitate to contact me.
It has been quite the start to 2022, I look forward to connecting with you again soon
Know that I am only a call, email or text away to assist with any of your real estate needs.