We are experiencing more of a balanced market compared to last year at this time. March 2022 capped off the 3rd best March and 2nd best first quarter on record, where homes are selling at an average of $117,000 more than they were last year at this time!
Let’s take a look at the numbers you need to know for the month of March:
Months of Inventory:
- GTA: 0.92MOI
- Mississauga: 0.74 MOI
Mississauga Housing Segments:
- Detached homes: 0.89 MOI
- Townhomes: 0.80 MOI
- Semi-Detached: 0.82 MOI
- Condos: 0.63 MOI
We are still in a seller’s market, but what exactly is causing the decrease in numbers in the real estate market right now?
- Surging inflation
- The war in Ukraine
- Increase of interest rates to 0.5%
- Increase of listings as we enter the spring market
SELLERS – despite the downward shift we are experiencing, right now is a GREAT time to sell! You need to utilize this time as a wave of change is coming, such as growing interest rates, government elections, and policy changes. Take advantage of the market NOW and make sure you’re not leaving any money behind!
BUYERS – don’t be discouraged by the interest rate increase. Get into the market now, as I expect strong growth going forward and there is not enough supply to cool down the market! We also helped 16 buyers last year win in this extremely competitive market, so get into the market, there is no time to waste!
OTHER VIDEOS YOU MIGHT LIKE:
- February 2022 Market Update: https://tinyurl.com/3apkd5ex
- 4 Predictions On 2022 GTA Real Estate: https://surl.li/bcdiv
- 5 Reasons Why 2021 Real Estate Market Set a Record: https://surl.li/bcdiz
If you’re thinking of making a move in 2022, we’re here to help! Contact us today to get started!
📲 647-504-0690
📧 steven@mistersauga.ca