Holy Shi(f)t! What Has Happen To The Market?

What is Really Happening in York Region Real Estate Market 

As we head into the third month of this market shift, it is so incredible how the pace changed so quickly!

I believe my role as professional is provide current updates of what is going on in real estate 

My focus is explaining the facts of what is happening now and spending less time on what might happen 

This might sound absurd but there is many factors and variables that affect the outcome of the future, 

but one thing I do believe it real estate will still be strong  

Keeping informed is significant so let’s get into the facts 

York Region April 2022 Vs May 2022 

1100 homes sold in May vs 1230 in April.  This was 130 less homes and a 10.6% decrease

Average Price was $1,369.657 in May vs 1,426,650 in April.  This was an average decrease of $56,994 and a 4% decrease

Average Days on Market was 14 in May vs 12 in April. This was an average increase of 2 days and a 16.7% increase 

263 homes sold in May vs 336 in April.  This was 73 less homes and a 10.6% decrease

Average Price was $ 1,376,668 in May vs 1,433,452 in April.  This was an average decrease of $56,784 and a 4% decrease

Average Days on Market was 14 in May vs 11 in April. This was an average increase of 3 days and a 16.7% increase 

 

Please understand things will not come to an abrupt STOP as there are people that still need to buy or sell.  

    

Why you might be thinking.     

Well life still does happen during a market shift

This is the market we’re in right now. 

Some properties are selling , while others are sitting on the market longer than you’d expect.

Why?

Some say there’s no rhyme or reason.  

But they are wrong.  

Usually, I’d say it’s the move in ready homes flying off the shelf while the dated homes are sitting. 

Well, that is kind of true. 

Why you might be asking? 

Well, there are many other turn-key homes that aren’t getting the same level of attention.

 If you are selling now you need to have a move in ready turnkey property, compelling marketing and a compelling price.  

Buyers are very picky right now and if your home is not compelling it won’t be selling.  

How’s the market right now for buyers, and what does it all mean to you? 

Buyers right now are having an easier time finding and actually purchasing the property of their dreams  to fit their need and lifestyle.

So as a buyer right now, you should still be prepared and don't sit on the sidelines on a great property because you think there’s further downward pressure.  

If you find that!  You need to get into the game.  You should be buying right now. 

Please be rest assured I will be here to update you as we go through this together.  

Remember keeping current matters 

I am here to speak about different locations and more key details across York Region 

That’s all I have for now. Any questions?  

Have a great day, and don’t forget to share this.  We have over 4,000 subscribers, and the list keeps growing. 

Thank you for that! That’s all for today; thanks so much for your energy and attention. If you want some clarity on the market and your specific situation, please DM, or email jw@jwrealestate.ca