Hey Ayr - Here's your March 2022 Real Estate Market Update
Check out what happened in our village last month
In February, it was rare to see a property in the Waterloo Region not sell on - or before - its scheduled offer date. But in March, we've started to see some homes hitting the market, and not getting offers on their scheduled offer date, while other homes are still seeing multiple offers and setting record prices.
Why? There's a few reasons:
More listings hitting the market across Ontario, rising mortgage interest rates, inflation of almost all goods we consume, uncertainty in the world with the war in Ukraine, the Ontario Government announcing an increase to the Non-Resident Speculation Tax effective March 30th 2022, and the pandemic still looming - but probably the first 2 the most.
However, the demand for homes in Ayr remains strong, and every home sold in Ayr in March sold over list price.
So what happens next in the market? Only time will tell, but we might start to see the market balance out a little bit - and we might start to see listing strategies change. Selling in multiple offers for record prices may no longer be the norm, but the exception going forward.
Or, this could be a blip, a minor reprieve in the crazy market for home buyers.
We'll find out next month.
To view more Ayr market stats click here.
To view all Ayr listings for sale click here.
Got questions about the market? Get in touch, I'll be happy to chat.
Disclaimer: All data compiled on April 1st 2022 from the itsorealstate.ca Matrix system, via the Cambridge Association of REALTORS®, using only Residential listings, in the “Waterloo” Region, in the “N. Dumfries Twp. W” Area, in the “60 – Ayr” Neighbourhood, and only Freehold and Condominium properties.
New listings data from listings with a Commence date between March 1st 2022 to March 31st 2022.
Sold data from listings with a Pending date between March 1st 2022 to March 31st 2022.
* No sale data from last year
- No new listings or sold data