How did May do compared to last year’s?
We are noticing a definite shift in the market. Whereas 2021 was an amazing seller’s year, 2022 seems to be shifting more towards a balance between seller and buyer, while leaning a bit more towards a buyer’s market currently.
The number of sales are going down a bit by 38.9% for the month of May 2022, which is close to the 34.7% decrease in sales for the month of April 2022.
The average sale price is still climbing, with 22% for the month of May, compared to May 2021. This is also consistent with the numbers for April. Last month, we saw an increase of 26.6% compared to last year.
It is very important to understand how to navigate these changes in order to be a successful seller or buyer!
We offer you our experience and expertise to help you navigate these restless waters. Remember that as your Realtors, we are always on your team!!
Now: let’s have a look at the Real Estate numbers for May 2022 and see how your municipality did!
PS: Text/call me any time if you have questions! 905-321-5050.