TRREB April Stats are out! Here is a brief update on what is happening in today's residential real estate market.📈 There have been many headlines recently that speak of a shift or change in the
TRREB Market Watch - April 2022
Dated: May 6 2022
Views: 76
TRREB April Stats are out! Here is a brief update on what is happening in today's residential real estate market.
📈 There have been many headlines recently that speak of a shift or change in the real estate market
📈 Although the volume of sales are down across the GTA by approximately 40%, pricing still remains Strong, up 15% compared to April of last year
📈 The overall appreciation of real estate will continue to cool as long as interest rates continue to rise
📈 The pace at which homes were appreciating across many areas of the GTA were not sustainable
📈 Inventory levels of available homes for sale will rise, slowing the overall appreciation of all home types, which is a good thing!
📈 The sales volume of condominiums have also begun to slow as borrowing costs continue to rise
📈 The volume of condo sales are down almost 35% but pricing remains Strong, up almost 13% compared to April 2022
📈 Again, as inventory levels rise the pace at which residential property appreciates will begin to slow
📈 The demand for new construction condominium units continues to be Strong
📈 New condominium demand has actually been far outweighing supply
📈 During the past two quarters, total sales exceeded the total number of units launched for presale, resulting in a six-month plunge of 34% of standing inventory
📈 New construction is a great way to enter or continue to invest in Great Toronto Area Real Estate
📈 If you have any interest in the process please do not hesitate to contact me
📞 I am always happy to address any of your real estate questions, please never hesitate to reach out to me
Simmer Principio
SIMMER PRINCIPIO is a real estate agent with Royal LePage Signature. She's been in the real estate industry for over 10 years, first as an investor and now as an agent. SIMMER loves food and wine - sh....
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