WHAT'S HAPPENING IN THE MARKET?

The average selling price for this month had an overall decrease of 7.2% compared to November of 2021, but compared to last month (October 2022), prices decreased by $10,069 from $1,089,464.

Looking at the prices on a month-to-month basis, we are expecting to see another drop in December 2022. 

Looking at the trend, we continue to see the similarities between the trend of this year and 2017, where numbers went down in November and December. 

Comparing the trends of 2017 to 2018, it can be seen that 2018 was a stable year where the prices did not change drastically and the prices were very similar to 2017. 

We experienced a decrease of 49.6% compared to November 2021 when comparing the number of total transactions.

Year to date, we are down by 37.5% compared to January - November of 2021.

The number of active listings went up by 95.7%. However, it should be noted that 2021 had a very low inventory. 

If we look at previous years, we can see that we are still at the normal level of inventory since 2021 is considered to have a significantly lower number of active listings. 

If you are thinking about buying, selling, investing, or just have some real estate questions, you can reach me directly at 647-298-7500 or by scheduling a meeting with me.

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