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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. 



 

 

Watch this video for even more details on the June Market. 




Do you have any questions about Simcoe County Real Estate stats?

If so, Please feel free to send me a message, and I will be Happy to answer any questions you may have!


And if you are thinking of selling or just don't know where to start, Please reach out to me and I will gladly assist you.

I am Gemma Leggett with RE/MAX Hallmark hoping everyone had Fun celebrating Canada Day this year!



 



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Buying a home for the first time can be both an exciting and daunting experience. As a first-time homebuyer in Ontario, there are several things to consider to ensure a smooth and successful process. Here are some tips to help you along the way:

1. Determine your budget: Before you start looking at homes, it's important to determine how much you can afford to spend. Take into account your income, expenses, and debts to come up with a realistic budget. This will help you narrow down your search and avoid the disappointment of falling in love with a home that is outside your price range.

2. Research neighbourhoods: Ontario is a large province with a diverse range of neighbourhoods. Research the areas you are interested in to find out about the local amenities, schools, and safety ratings. This will help you find a neighbourhood that suits your lifestyle and needs.

3. Get pre-approved for a mortgage: Getting pre-approved for a mortgage can give you a better idea of how much you can afford to spend and help you move quickly when you find the right property. It also shows sellers that you are serious about buying and can give you an advantage in a competitive market.

4. Work with a reputable real estate agent: A good real estate agent can help you navigate the complex process of buying a home. Look for someone who is experienced, knowledgeable about the local market, has a good reputation and who has experience working with first-time homebuyers. They can help you find properties that meet your criteria, negotiate with sellers, and guide you through the paperwork.

5. Be prepared to negotiate. In today's competitive real estate market, it's important to be prepared to make an offer that is both competitive and attractive to sellers.

6. Don't forget about closing costs: In addition to the purchase price of the home, there are several other expenses to consider, such as legal fees, land transfer fees, and home inspection costs. Make sure you budget for these expenses so you are not caught off guard at closing.

Remember, buying a home is a big investment, so it's important to take the time to do your research and make informed decisions throughout the process. With the right preparation and guidance, you will find the perfect home for you and your family.


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