Detached and Condo Apartments Rose By 1% Other Property Types Dropped 3%

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November 2022 Market Update

Toronto & Durham Region

Durham Region detached homes and Condo apartments rose by 1% while other property types dropped another 3% from October 2022. There has been very little price change in Semi-Detached homes over the past 6 months. Same with Link and Townhouses that have only lost 5% over the past 6 months.

Bank of Canada increased its interest rate by another 50 basis points, and continues quantitative tightening. However they have hinted that this may be the last increase.

IMO we have hit the bottom and right now is the time to buy before activity starts in March and prices rise due to lack of inventory. Interest rates have increased however house prices have dropped significantly requiring a lower down payment.

If you are thinking of selling or buying contact me if you need any Real Estate advice.

Clarington Market Update

Oshawa Market Update

Whitby Market Update

Ajax Market Update

Pickering Market Update

Toronto Market Update

Durham Region Overall

Durham Region Overview

Detached homes gained 1% and now are 8% lower than June 2022
Semi-detached remained unchanged and only 4% lower than 6 months ago
Condo Townhouses dropped 3% and now 9% lower than June 2022
Condo Apartments gained 1% and now 13% lower than 6 months ago
Link properties dropped another 3% and now 5% lower than June 2022
Townhouses also dropped 3% but only 5% lower than 6 months ago