King's Real Estate Market Shows Signs of Recovery
The real estate market in King has seen a decrease in benchmark price by 7.75% over the past year, according to the HPI data for all property types. However, there has been a 1.44% increase in the benchmark price over the past month. The market report data for the last 12 months shows that the average price for all property types in King is $2,059,773, with 44 properties sold in May 2023. The average days on market for these properties is 20 days, and the average sold-to-list price ratio is 97%. The market has a current inventory of 122 active listings, resulting in a months-of-inventory rate of 2.77.
The real estate market in King has been relatively stable over the past year, with a consistent number of new listings and active listings. However, the months-of-inventory rate has decreased from 9.67 in September 2022 to 2.77 in May 2023, indicating a shift towards a seller's market. The average sold-to-list price ratio has remained high, indicating that properties are selling close to their asking price. Overall, the market in King is showing signs of recovery, with a slight increase in benchmark price and a low inventory rate.
Read the full article on: Toronto Regional Real Estate Board
