Milton realtors reported 178 homes sold through TRREB’s MLS® System in April 2022 – a 39 per cent decrease compared to March 2022.
TRREB'S Chief Market Analyst Jason Mercer noted “Despite slower sales, market conditions remained tight enough to support higher selling prices compared to last year. However, in line with TRREB’s forecast, there is evidence of buyers responding to increased choice in the marketplace, with the average and benchmark prices dipping month-over-month. It is anticipated that there will be enough competition between buyers to support continued price growth relative to 2021, but the annual pace of growth will moderate in the coming months,”
According to said TRREB's President Kevin Crigger.“Based on the trends observed in the April housing market, it certainly appears that the Bank of Canada is achieving its goal of slowing consumer spending as it fights high inflation. Negotiated mortgage rates rose sharply over the past four weeks, prompting some buyers to delay their purchase. Moving forward, it will be interesting to see the balance the Bank of Canada strikes between combatting inflation versus stunting economic growth and related government revenues as we continue to recover from and pay for pandemic-related programs,”
Click the link below to check out the full breakdown of what happened in Milton real estate market for April 2022.
Whether you are considering selling, refinancing or just staying put in your home, now is the time to get a home evaluation! CLICK HERE to set up a FREE home evaluation to find out how much your home is worth in today’s market.
A real estate market never heads in just one direction. Several key factors can drastically influence the direction of the market including mortgage interest rates, employment levels/growth, investment growth, immigration and development. These factors can influence whether we are it is a buyer’s market or a seller’s market .
A buyer’s market exists when there are significantly more homes for sale than there are buyers. The typical end results in a drop in median sale prices over time as homeowners adjust their expectations to the current market conditions.
A seller’s market typically exists when interest rates are low are there are plenty of qualified buyers and not as many homes for sale. Buyers must react quickly and often face multiple offer situations. Prices generally rise under these circumstances.
To learn more, read our blog post about the difference between buyer's market and sellers market
Looking to buy? Have a look at current listings . Questions about the April 2022 Market Data? Reach out to us at homes@Flowersteam.ca .
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