YORK REGION & SIMCOE COUNTY REAL ESTATE MARKET UPDATE FOR JULY 2022

In an effort to combat inflation, the Bank of Canada raised interest rates by one whole point in July, to 2.5 percent. This hike marks the largest single jump in the bank’s key rate in more than 20 years. With this significant increase in lending rates in a short period, there has been a real shift in consumer feelings. Some are concerned that they will not be able to afford their home when renewal time arrives.

Now more than ever, it’s essential to speak with professionals who will guide you and help you achieve your goal. Do not stay in the unknown - reach out to speak about YOUR own situation.

As I specialize in York Region and Simcoe County, these will be the multiplicities that I will break down for you.

YORK REGION:

Compared to last month, the average sales price in York Region is down 2.52% and the average days on the market have increased to 20 from 17 days.

Overall, this month there were 820 sales, which is down 18.89% from June when we saw 1011 sales.

Year over year, the average sales price increased by .24%.

The number of units sold decreased by 53.59% compared to July 2021 when we saw 1767 sales and the number of days on the market increased from 16 days to 20 days.

HERE ARE THE STATS PER HOUSING CATEGORY :

YORK REGION: CITY OVERVIEW

Here we will further break down the average sale price for each housing category in Newmarket and where it stands Month over Month and Year over Year.

Do you have any questions about York Region stats?

Please feel free to send me a message. I am happy to answer any questions you may have!

SIMCOE COUNTY:

The average sales price in Simcoe county is down 8.44% from last month, and the average days on the market have increased to 23 from 22 days.

Overall, this month there were 138 sales reported by the Toronto Real Estate Board, which is down 29.59% compared to June when we saw 196 sales.

Year over year, the average sales price decreased by 2.65%.

The number of units sold decreased by nearly 53%, when we saw 292 sales in July 2021 and the number of days on the market increased to 23 from 16 days.

HERE ARE THE STATS PER HOUSING CATEGORY :

SIMCOE COUNTY: CITY OVERVIEW

Here is a further breakdown of the average sale price for each housing category, for each specific area, and where it stands Month over Month and Year over Year.