Are you sitting down? February market stats are in and the average sale price for all residential properties has officially crossed the million dollar mark! Yes, it continues to be a great time to sell and these numbers reflect the continued appeal of our Waterloo Region however there is still an increasing concern regarding the affordability for a growing number of people.
We knew the bank of Canada would raise rates this year (and there will likely be a few more on the way), which could have a slight impact on housing prices however it seems to be the consensus that the market will continue to increase over 2022 and possibly stabilize near the end of this year heading into 2023.
