Ontario’s real estate market has been on a roller coaster ride in recent years, with prices soaring and inventory levels dropping. In June 2021, the average selling price of homes in Ontario was $864,159 according to the Canadian Real Estate Association (CREA). The Greater Toronto Area (GTA) saw an even higher average price for single-family homes at $1.77 million in March 2022. Ottawa experienced an annual growth rate of 21.7% for home prices during 2021 while housing inventory across Ontario dropped by 28% compared to February 2021 figures as reported by OREA.
The Hamilton-Burlington area had an average resale price of $848,719 in February 2021 while Barrie’s real estate prices were up 34% year over year from 2020 to 2021 according to Zolo Canada blog post data. Unfortunately only 1 out 25 households will be able to afford the median priced home come 2023 based on CMHC projections and Northern Ontario sales transactions increased 26.9%. Kitchener-Waterloo also saw a 33.9% increase for detached homes throughout all of last year whereas London properties stayed on the market just 10 days back in February 2022 per LSTAR reportings .
Windsor Essex County witnessed 32..7 % appreciation when it came time for their yearly review this past July but vacant houses have risen 42..9 percent since 2011 which is concerning news indeed. Rental rates declined 9.2 percent within Toronto city limits meanwhile Mississauga townhomes averaged around one million fifty five thousand seven hundred eighty two dollars ($1 055 782) that same month; Thunder Bay residential sales volume rose 13.6 percent between January ’21 & ’22 yet Niagara region’s total sale count went up 15…9 % overall through ‘21 versus ‘20 numbers – Guelph’s median house cost jumped twenty percentage points YOY too. Lastly Peterborough recorded 894 three seventy one dollar ($894 371 ) averages upon closing deals during Januaray 22nd , plus 3 oh 2 nine active listings inside GTA boundaries as recently noted via TRREB stats .
The average selling price of homes in Ontario in June 2021 paints a vivid picture of the current state of the Ontario real estate market. This statistic is a valuable indicator of the market’s health, providing insight into the current trends and prices of homes in the province. It is an important piece of information for anyone looking to buy or sell a home in Ontario, as it can help them make informed decisions about their real estate investments.
In March 2022, the average price of a single-family home in the GTA was $1.77 million.
The staggering statistic of the average price of a single-family home in the GTA reaching $1.77 million in March 2022 is a testament to the ever-increasing cost of real estate in Ontario. This figure serves as a reminder of the immense financial burden that prospective homeowners in the province face.
Ontario Real Estate Statistics Overview
The annual growth rate for home prices in Ottawa was 21.7% in 2021.
This statistic is a testament to the booming real estate market in Ottawa, indicating that home prices have seen a significant increase in 2021. This is an important indicator of the health of the Ontario real estate market, and provides insight into the current trends in the area.
Housing inventory in Ontario dropped by 28% in February 2022 compared to the same period in 2021.
The staggering 28% drop in housing inventory in Ontario in February 2022 compared to the same period in 2021 is a telling sign of the state of the Ontario real estate market. This statistic serves as a stark reminder of the impact of the pandemic on the real estate market and the need for further analysis of the current trends in order to make informed decisions.
The average resale price of a home in the Hamilton-Burlington area in February 2021 was $848,719.
This statistic is a telling indication of the current state of the Ontario real estate market. It reveals that the average resale price of a home in the Hamilton-Burlington area is significantly higher than the provincial average, indicating that the area is a desirable place to live and invest in. This statistic is an important piece of information for anyone looking to buy or sell a home in the area, as it provides insight into the current market conditions.
The average price of a detached home in Kitchener-Waterloo increased by 33.9% in 2021.
This statistic is a telling indication of the current state of the Ontario real estate market. The 33.9% increase in the average price of a detached home in Kitchener-Waterloo is a clear sign that the market is booming and that now is a great time to invest in real estate in the area.
Properties in London, Ontario stayed on the market for an average of 10 days in February 2022.
This statistic is a valuable insight into the London, Ontario real estate market in February 2022, as it indicates how quickly properties are being sold. It provides an indication of the current demand for properties in the area, and can be used to inform potential buyers and sellers of the current market conditions. Additionally, it can be used to compare the London, Ontario real estate market to other markets in the province, and to track changes in the market over time.
Rental rates in Toronto declined by 9.2% year-over-year in March 2022.
The 9.2% year-over-year decline in rental rates in Toronto in March 2022 is a telling sign of the state of Ontario’s real estate market. It indicates that the market is cooling off, and that rental prices are becoming more affordable for tenants. This could be a sign of a shift in the market, and could be an indication of a potential opportunity for investors to capitalize on the lower rental rates. This statistic is an important indicator of the current state of the real estate market in Ontario, and should be taken into consideration when discussing real estate statistics.
In February 2022, there were 3,029 active residential listings in the Greater Toronto Area.
The fact that there were 3,029 active residential listings in the Greater Toronto Area in February 2022 speaks volumes about the state of Ontario real estate. It indicates that the market is still active and that there are plenty of opportunities for buyers and sellers alike. This statistic is a great indicator of the health of the real estate market in the province and can help inform decisions about whether to buy or sell in the near future.
Conclusion
The Ontario real estate market has seen significant changes over the past year. The average selling price of homes in June 2021 was $864,159 and by March 2022 it had risen to an average of $1.77 million for single-family homes in the GTA. In Ottawa, home prices saw a 21.7% annual growth rate while housing inventory dropped 28% across Ontario from February 2021 to February 2022. Hamilton-Burlington’s resale price averaged at $848,719 in February 2021 and Barrie experienced a 34% increase in real estate prices throughout 2021 compared to 2020.
Northern Ontario also saw an impressive 26.9% rise in sales transactions during that same period while Kitchener-Waterloo’s detached home prices increased 33%. Unfortunately, only 1 out of 25 households will be able to afford the median priced home by 2023 according to CMHC data; however rental rates have declined 9%, providing some relief for renters looking for more affordable options within Toronto city limits this year as well as other cities such as Mississauga where townhomes are averaging around one million dollars ($1,055,782).
Home sales were up 13.6 %in Thunder Bay (January) and 15 .9 %in Niagara region (2021), with Guelph experiencing a 20 percent jump on their median house price last month alone. Vacancy rates remain low at 3%, but active residential listings rose significantly with 3 029 available properties listed on MLS systems across Greater Toronto Area just last month -February 2022-. Finally Peterborough reported an average sale price of 894 371$ which is still below what most Ontarians can expect when buying property elsewhere like London or Windsor Essex County where houses sold respectively after 10 days on market and 32 7 %yearly appreciation since July 2020..
Overall these statistics demonstrate how dynamic yet unpredictable the current state of affairs is regarding Real Estate investments within Canada’s largest province:Ontario
References
0. – https://www.trreb.ca
1. – https://www.lstar.ca
2. – https://www.trreb.ca
3. – https://www.ottawa.ctvnews.ca
4. – https://www.crea.ca
5. – https://www.rahb.ca
6. – https://www.kwar.ca
7. – https://www.orea.com
8. – https://www.rentboard.ca
