what are the changes in the current market?
- 266 Sales for April. Although down 49% compared to this time last year, the sales are up 168% from 2020.
- Months of Inventory (MOI) is 1.8, Starting to see a return to a more 'normal' market, but still considered a sellers market.
- Average Days on Market (DOM) is 11, which continues to be low.
- Average Sale Price is $1.7M, a 16% increase from 2021 and 59% from 2020.
- With the exception of Condo Townhomes (up 43%) and Condo Apartments (up 7%), the number of New Listings are down from March.
- Number of Active Listings are up 30% from last month, and 26% from this time last year.
- Months of Inventory (MOI) are going up, showing more inventory is becoming available for buyers.
- Average Sale Price to Listing Price (SP/LP) is 102% from 108% last month. Good news as it suggests house prices might be starting to settle down.
- Finally, we are starting to see a calming in the market, helping buyers with more inventory and a settling of the crazy price increases.
- It should be noted that some pockets still having higher than average activity and price increases, which is why it is so important to consult us before you start your house hunt or list your property for sale.
- Remember to call Ross Bridges Real Estate Team 905-220-1848 now or send us an email to email@example.com.
ROSS BRIDGES REAL ESTATE TEAM - HELPING YOU FIND YOUR WAY HOME!
Check out the Burlington April Market Update to see how numbers compare to Oakville.
Read the Oakville Market Stats for March 2022, to see the difference a month can make.
Check out Ross' podcast, Rambling REALTORS® for discussions on all things Real Estate, including trends and statistics!
Call us now! Or schedule a phone or Zoom consultation with Ross Bridges, REALTOR® - Helping you find your way home.