Jalaj’s market update for March 2022


Hi there everyone, the real estate market in Milton is in the midst of a big switchover. Prices were up by 26% from a year ago in March, but they did slip by 3% from a month ago. Even though we don’t have numbers in for the month of April, I can tell you this much that the prices did go down further. Biggest change has been in the number of sales, down by 42% from last year March. Yes, we saw fewer listings coming up on the market, down by 8% from last year March, but compared to February of this year, we had one and a half times more listings. At one time, we hardly had enough listings for sale, but for the month of March, we had total of 229 active listings, giving us one month’s of inventory. Sold to new listing ratio, which for the last two years had been indicating a sellers’ market, is now pointing towards a balanced market conditions, but I can tell you this much, the last couple of weeks of data is pointing towards a buyers’ market. Said this a week ago, and will repeat again, as sellers, please be mindful of the changing market conditions and price your homes accordingly. You take care and talk soon.