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

Higher borrowing costs continue to impact home sales in June 2022. However, there is more balance in the market this month, resulting in a more moderate annual pace of price growth.

“Home sales have been impacted by both the affordability challenge presented by mortgage rate hikes and the psychological effect wherein home buyers who can afford higher borrowing costs have put their decision on hold to see where home prices end up. Expect current market conditions to remain in place during the slower summer months. Once home prices stabilize, some buyers will re-enter the market despite higher borrowing costs,” said TRREB President Kevin Crigger.

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 sale price in York Region is down -4.51% and the average days on the market has increased to 17 from 14 days.

Overall, this month there were 1,011 sales which is down -8.09% from May when we saw 1,100 sales.

Year over Year the average sales price increased by +5.32%.

The number of units sold decreased by almost 50%, when we saw 2015 sales in June 2021, and the number of days on the market increased by a day from 14 to 17 days.

HERE ARE THE STATS PER HOUSING CATEGORY :

We can see the total price has increased Year over Year based on each housing category.

YORK REGION : CITY OVERVIEW

One of my Newest and Favourite reports is The City Overview. It gives you a further breakdown on the average sale price for each housing category, for each specific area, 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, and I will be Happy to answer any questions you may have!

SIMCOE COUNTY:

The average sale price in Simcoe county is down -6.66% from last month, and the average days on the market has increased to 22 from 15 days.

Overall, this month there were 196 sales reported by the Toronto Real Estate Board, which is down -14.78% compared to May when we saw 230 sales.

Year over Year the average sales price increased by +2.71%.

The number of units sold decreased by just over 45%, when we saw 364 sales in June 2021, and the number of days on the market increased to 22 from 15 days.

HERE ARE THE STATS PER HOUSING CATEGORY :

We can see the total price has increased Year over Year based on each housing category, except for Detached Homes, which has decreased from last year.

SIMCOE COUNTY : CITY OVERVIEW

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