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Monthly Market Update - August 2022

Shelley DePalma

Shelley brings 19+ years of Customer Service, Project Management, & Executive Support to her career as a Realtor with Royal LePage Your Community ...

Shelley brings 19+ years of Customer Service, Project Management, & Executive Support to her career as a Realtor with Royal LePage Your Community ...

Jun 10 2 minutes read

Sales represented a higher share of new listings compared to the previous three months. If this trend continues, it could indicate some support for selling prices in the months ahead. 

While higher borrowing costs have impacted home purchase decisions, existing homeowners nearing mortgage renewal are also facing higher costs. There is room for the federal government to provide for greater housing affordability for existing homeowners by removing the stress test when existing mortgages are switched to a new lender, allowing for greater competition in the mortgage market.

 If you're thinking about selling your home, being aware of the trends in the market will help you understand the strength of the market. 

Our monthly market update showcases everything you need to know about local real estate trends over the last month. 

 August Market Update for Caledon, ON

174

New Listings

63

Homes Sold

$1,311,508

Average Sale Price

40

Average Days On The Market


 August Market Update for Vaughan, ON

443

New Listings

260

Homes Sold

$1,274,395

Average Sales Price

37

Average Days On The Market

Curious about how your home's value has changed?

We will gladly prepare a Comparative Market Analysis for you so that you are armed with the most current information.

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