Double Digit Price Drop In April

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April 2022 Market Update

Durham Region & Toronto

Prices continued to drop in April in many markets. The main reason we are seeing a drop in prices IMO and based on the clients that I have worked with, is that most of the investors and buyers are holding back on their purchases till prices drop further as the interest rate continues to increase.

In the past all types of homes were being purchased no matter the condition, since you could still sell and come out profitable.
I have found that after the interest rate increases only homes that are in good condition & location and have been marketed well are getting multiple offers.

Homes that have been listed as is and by a discount agent sit on the market and sell for less bringing the average sale price down. If you are thinking of selling in the current market, make sure you do your due diligence and pick your Realtor wisely.

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 home prices dropped by 5% bringing the prices down to the same level as December 2021
Condos dropped by 5% and are at the February 2021 price level
Townhouses dropped by 8% and close the the December 2021 price range
Bowmanville Real Estate Agent