Toronto & GTA
In the GTA, there were similar sales numbers to last month, however there was a 49% drop in sales year-over-year.
New Listings were down year over year by 11.6%, not seen since 2010.
The average selling price dropped by 5.7% to $1,089,428 year over year.
October 2022 Residential Sales in Muskoka were down by -32% on non waterfront properties and down -43% on waterfront listings year over year.
Sales in the Condo sector were unchanged with 4 in each year in the non- waterfront sector and were down -85% in the waterfront sector this October over last
Total Residential Listings were up by 9% on non waterfront properties and down -26% on waterfront properties compared to October 2021.
Listings priced competitively continue to sell with a median number of days on market of 33 (non waterfront) & 32 (waterfront)
The Muskoka Median Residential sale price was down -3% (non waterfront) and down -13% (waterfront) year over year
While we are seeing the overall number of sales dropping the sales prices are still slightly up this year over last. While as a Seller you may not see the same frantic activity as earlier in the year and your house may be on the market longer now, the Buyers are still out there but taking a bit more time to do their area research on likely one of the biggest purchases of their life. Now more than ever knowing the true market value of your home is important.
Have you been thinking about moving? Wondering what your home is worth today with the shifting real estate market? Wondering if now is a good time to make a move?
We can help answer your questions, provide you with a Home Valuation and help you find that perfect property.