We use cookies to enhance your browsing experience and deliver our services. By continuing to visit this site, you agree to our use of cookies.More info
North GroupNorth Group
Call Us:

(647) 559-5880

    Ask Us Anything
    Follow us
    The Team

    About Us

    • Meet Our Team
    • Our Culture Code
    • Read Our Reviews
    • Careers
    • Charity

    Our Services

    • Sell With Us
    • Buy With Us
    • Search for Homes
    • Commercial
    • Our Active Listings
    • Get Your Home's Value
    North Group

    70 Jutland Road, Unit 16, Toronto, ON M8Z 2G6

    • (647) 559-5880
    • [email protected]

    What’s Happening in Real Estate? Let’s Look at the Facts: November 2022 Market Update

    So if you’ve had any level of media exposure in the last couple of months, it shouldn’t be a surprise to see that the November...

    • Amy Youngren
    • December 8th, 2022
    • 2 min read
    Featured Image

    So if you’ve had any level of media exposure in the last couple of months, it shouldn’t be a surprise to see that the November stats back up the fact that sales are down.📉

    Main reason❓ Interest rate hikes are stiffening buyers, post-Covid inflation playing a large factor here, and market shifts 🔁have caused Sellers to retreat.

    But that’s the big picture. On a micro scale, pricing isn’t shifting all that much. The adjustments we are seeing are not nearly as drastic as the drop in sales activity (7% drop ⬇️ in pricing vs 49% in activity). We saw that downward graph in pricing start in the spring, but this has levelled out greatly. Opposing forces of low supply and immigration as well as those taking advantage of the market shift ↔️  have kept purchase prices relatively strong and month to month, the changes are minor. The average price is now sitting at $1,079,395.🏡

    What isn’t stressed enough in those doom and gloom media reports?🤔  There’s not a blanket trend happening - you need to look at the specific home type, area and down to the exact property in question. In fact, condo prices are UP by 4% year over year - as with most of the “more affordable” home types. 

     

     

    Because whether you should buy or sell right now is🤷‍♀️ not a one size fits all. Those that are concerned about the market are equally matched by excitement for investors or Buyers looking to move into a price segment that has seen shifting prices. 

    The positive here is that if you are selling, you’re not losing🏆. It's not the frenzy of years gone by, and yes although some prices are down, it still means you’ll benefit in the same respect on your purchase🔑. Further, supply will be on your side as a Seller in Ontario, and with the Bank of Canada December announcement, there are many hints that the interest rate tightening is finally coming to a slow down.

    Author Photo
    About the author

    Amy Youngren

    416-624-8854
    • facebook
    • instagram
    • youtube
    Amy Youngren is an avid real estate investor, sought-after speaker and founder of one of Canada’s fastest growing, award-winning real estate teams: North Group (est. 2017). As a business leader with 20 years of both corporate and sales experience within the real estate industry, Amy is guided by a vision to empower real estate entrepreneurs through a platform of superior systems, services and marketing that create real estate experiences worth talking about for 300+ clients annually. Named one of the “100 Most Influential in Real Estate” by Inman, she has steered North Group to numerous accolades, including “Most Innovative Real Estate Team” and ranked in the Top .01% in Canada, by the Toronto Regional Real Estate Board. Amy is a results-driven leader with an extensive network of industry connections, partners and investors, who is a regular commentator on industry trends and has been featured in the Canadian Press, Toronto Star, CTV andYahoo! Finance, among others.

    Similar posts like this

    5 Key Trends Every Toronto Home Buyer Should Watch For In 2024

    Toronto's real estate market is ever-evolving, presenting unique opportunities and challenges for home buyers. As we ste...
    Read more

    Market Report & Super Bowl…January Market Update

    What happens when the Real Estate Market Report and Super Bowl both happen in the same week? 📈🏈 We geek out and get a ...
    Read more

    What's It Cost? Homeownership Expenses Beyond Your Mortgage

    Discover the True Cost of Homeownership Beyond Mortgage Payments: From property taxes to maintenance, explore the additi...
    Read more
    North Group

    Your results matter most.

    Real Broker Ontario Ltd., Brokerage

    70 Jutland Road, Unit 16, Toronto, ON M8Z 2G6

    Real Broker Ontario Ltd., Brokerage

    70 Jutland Road, Unit 16, Toronto, ON M8Z 2G6

    (647) 559-5880
    [email protected]

    Footer Links

    • About
    • Services
    • Buy With Us
    • Sell With Us
    • Reviews
    • Careers
    • Search For Homes
    • Listing Portfolio
    • Get Your Home's Value
    • Contact Us
    Join Our Email List:

    To Discover The Difference

    *We respect your inbox. We only send interesting and relevant emails.

    Real Broker Ontario Ltd., Brokerage © 2025

    Privacy Policy
    Powered by