Here is a quick update on what we're seeing in the market this week, especially as we move further into the spring market—one of the biggest shifts is the increase in inventory. We saw a significant jump in new listings, which means buyers now have more choice than they've had over the past few weeks.
Sales activity is still there, but not quite keeping pace with the number of new listings coming onto the market. As a result, we're seeing a slight shift in behaviour. There were more price reductions and cancellations this week, with slightly fewer homes selling over asking. That's a sign that buyers are becoming more selective and taking a bit more time before making decisions, which is typical for this time of year.
As more listings come onto the market in the spring, it creates more balance. The right homes are still selling, but there's less of that across-the-board competition we sometimes see earlier in the season. If you're a buyer, this is a good sign. You have more options and more room to make thoughtful decisions. If you're a seller, it highlights how important it is to price and position your home correctly from the start, especially as inventory continues to build.
As always, if you have any questions or want to talk through what this means for you, reply to this email — I'm always happy to chat.
Sales activity is still there, but not quite keeping pace with the number of new listings coming onto the market. As a result, we're seeing a slight shift in behaviour. There were more price reductions and cancellations this week, with slightly fewer homes selling over asking. That's a sign that buyers are becoming more selective and taking a bit more time before making decisions, which is typical for this time of year.
As more listings come onto the market in the spring, it creates more balance. The right homes are still selling, but there's less of that across-the-board competition we sometimes see earlier in the season. If you're a buyer, this is a good sign. You have more options and more room to make thoughtful decisions. If you're a seller, it highlights how important it is to price and position your home correctly from the start, especially as inventory continues to build.
As always, if you have any questions or want to talk through what this means for you, reply to this email — I'm always happy to chat.
Sincerely,
Marcia Grove, REALTOR®
Market stats based on information from the ITSO MLS® System. Multiple MLS® Systems operate within Ontario, and while none can be guaranteed to include every property listed or sold within a given area, they effectively illustrate market trends.
