The Bank of Canada has been aggressively boosting interest rates to combat soaring inflation since the beginning of 2022. This month they raised rates by .75%, totalling a 3% increase this year. This is the most significant increase we have seen in such a short period of time.
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 1.51% although the average days on the market have remained the same at 23 days. This month there were 927 sales, down 12.79% from August when we saw 1063 sales.
Year over year, the average sales price decreased by 8.28%. The number of units sold decreased by 45.31% compared to September 2021 when we saw 1695 sales and the number of days on the market increased from 16 days to 23 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.
SIMCOE COUNTY:
The average sales price in Simcoe county is up 16.91% from last month, and the average days on the market have increased to 25 from 31 days. This month there were 168 sales reported by the Toronto Real Estate Board, which is down 4% compared to August when we saw 175 sales.
Year over year, the average sales price decreased by 0.86%. The number of units sold decreased by 29.11%, when we saw 237 sales in September 2021 and the number of days on the market increased to 31 from 15 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. 
As always, I'm here to be a resource for you. Now more than ever, speaking with professionals who will guide you and help you achieve your goal is essential. Do not stay in the unknown - reach out to speak about your unique situation. I am Gemma Leggett with RE/MAX Hallmark - I hope everyone has a wonderful Thanksgiving!
