What Do The Market Stats Tell Us?

How's The Market? 4 Real Estate Market Stat Facts with Perspective

4. Over a Decade: According to Toronto Regional Real Estate Board (TRREB) historically collected data, the average sale price (inclusive of all homes types) recorded a short decade ago was $522,951 and just this past month it was recorded to be $1,135,595. That’s a whopping 117.15% INCREASE! You see, when the pendulum swings and a market endures a market shift, it typically takes 18-24 months to fully cycle through which is relatively quick in the overall buy and hold real estate owner. 

5. This may shock you… May recorded 11-13% of homes were unsold when initially listed on the market before being relisted again. Actually, this statistic has improved month over month since January when it was recorded as high as 19% of homes unsold and being relisted. Conclusion: as sellers are recalibrating just like the buyers are, a deal can be made through creative negotiations

6. The number of sales, as recorded by TRREB, from May 2022 to May 2023 is up 24% but new listings are down by 18%. This is at least just a snapshot but the truth is we will continue to see a supply and demand issue. The "right" time to buy and/or sell real estate is according to your lifestyle, your financial situation, your short and long term goals. If you need assistance with assessing the pro's and con's of buying or selling now in consideration to your own situation, call and book an appointment with a member of our team. We're here to help sort out even the most complicated situations, solve obstacles standing in your way, and provide you with a customized plan. 

7. Thought Provoking Question: How is the market different one hour north of Toronto vs one hour east of Toronto?

Let’s consider Clarington vs. Barrie

*Stats indicate its a balanced market however multiple offer occurrences are still prevalent to knock out quick sales for motivated sellers

In summary, these stats suggest:

• you can buy more for your money in Barrie than Clarington
• there are more homes for sale to choose from in the Barrie than in Clarington