A Look Back on the Real Estate Market in Orleans Ontario – Statistics and Trends to Watch

As a homeowner in Orleans, Ontario, it is important to be aware of changes and trends taking place in the local real estate market. Looking back at how the market has changed from year to year can give insight into future trends that might impact your home-related investments. In this blog post, we will examine some key statistics from recent years surrounding Orleans’ real estate landscape – so you can make better-informed decisions about any potential investments or sales you may consider in the near future!

Sales in Orleans Ontario in 2021

Sales in Orleans Ontario in 2022

As we look back on 2022 and compare it to 2021 we can see some key insights. As these snapshots show, home prices for almost all types of homes in Orleans, have increased in 2022. 

Towards the end of the year we have noticed some key performance indicators that indicate a significant trend in the market. For instance, days on market for homes have increased from 7-14 days, all the way up to 47 days in December, which is the similar days on market that we had in 2018. Consequently it is taking longer to sell homes. A balance market days on market is anywhere between 60-90 days on market. Another indicator is that there is more inventory and less sales volume. Months of inventory have increased from 0.5 during the first half of 2022, to end around 2.5. 

The previous two years have been very turbulent in Orleans with price increases as we have never seen before. I anticipate that 2023 will be a more balanced market, but with the caveat that well priced turnkey ready homes will still be sought after and competitive, whereas homes that are dated and need work, and or tenanted homes will take significantly longer to sell. With the increase in inventory Buyers will have a better opportunity to make an informed purchase and have some choice in which property they will want to purchase. Sellers will have to be increasingly patient and willing to negotiate with Buyers. It is more important than ever to have a qualified real estate agent to help navigate, educate and negotiate on your behalf. Feel free to reach out to me, with any questions. 

Also if you would like more detailed information about the Ottawa statistics, feel free to reach out for a full guide.