ATTENTION POSTMASTER: Time Sensitive Materials
ABOUTOWNE Realty Corp., Brokerage 1235 North Service Road W. Suite 100, Oakville, ON L6M 2W2
TEAM
Each Office Independently Owned and Operated.
416.520.4785
JULY 2022
MORRISON REAL ESTATE MARKET REPORT
Nancy@NancyShea.ca
www.NancyShea.ca
HOW WILL
RISING RATES
AFFECT YOUR SALE?
To cool inflation from a 30-year high, the Bank of Canada has raised the benchmark rate from 0.25% to 1.5% since March and opened the door to lifting it to 2.25%. Longer-term mortgage rates have also climbed swiftly. With these sudden changes, it’s natural to reflect on how this will impact your own sale.
WHAT ABOUT
MY SALE? BANK OF CANADA STATES HOUSING PRICES ARE MODERATING FROM “EXCEPTIONALLY HIGH LEVELS.”
WHAT OTHER EXPERTS ARE SAYING
A report by Desjardins says that the average price of a home in Canada fell 2.6% in March and 3.8% in April. Despite the drop, that is still nearly 30% above what it was in December 2019. Desjardins also expects any decline in sales activity and prices to be led in smaller centres outside of major urban areas. The GTA and Oakville are ranked fourth and fifth in expected stability out of 40 cities/regions.
Any price drops would first occur in rural areas and communities that saw the biggest increases during the pandemic. Experts also believe GTA prices could stay high because of the area being the economic engine of the country, and there’s still a huge demand for people to live in the GTA.
Southeast Oakville is well positioned with the GO Train and 400 series of Highways providing access to employment areas in Mississauga, Brampton, and Toronto. Buyers can get more for their money here as compared to similar neighbourhoods of Toronto, Mississauga, Richmond Hill, and Markham.
PREPARED ESPECIALLY FOR
Leonardo and Angelica Washington Leonardo and Angelica, Sale Prices are still strong and there is still great demand from buyers that want to live in our beautiful neighbourhood. It is also much easier to find a new home now for families that are downsizing from Southeast. Our Strategies have changed with the recent market shift. Call Nancy at 416.520.4785 for an update on the current market.
PRESENTED BY
The Nancy Shea Team, Your Morrison Specialists
TEAM
www.NancyShea.ca
WHY CHOOSE NANCY SHEA? “Selling your home can be a very hectic and stressful procedure. My family and I appreciated how incredibly professional, organized, and thorough Nancy and her team were. They answered all our questions, kept us informed every step of the way, and made our sale a quick and smooth transaction. I definitely would recommend having Nancy as your Realtor.”
TEAM
416.520.4785 Nancy@NancyShea.ca
www.NancyShea.ca
MORRISON MARKET ACTIVITY JULY • 2022
THERE ARE 18 HOMES CURRENTLY ACTIVE IN MORRISON
MORRISON
AT A GLANCE
(03/01/22-07/12/22)
ACTIVE
SOLD
Bedrooms
Washrooms
Est. Sq. Ft.*
List Price
3
2.0
1,900
$1,995,000
5
3.1
3,600
$2,199,900
3
3.1
1,300
$2,599,999
3
3.1
3,300
$3,095,000
4
2.1
3,800
$3,599,000
4
2.1
2,200
$3,700,000
3
4.1
3,400
$3,950,000
4
3.1
2,900
$3,998,000
5
3.1
3,300
$4,199,900
5
4.1
6,400
$4,788,000
5
5.3
7,100
$4,900,000
4
5.1
6,700
$5,388,000
5
4.1
6,600
$5,950,000
5
6.1
7,800
$6,875,000
5
7.1
8,400
$7,380,000
5
5.3
5,100
$8,199,999
5
7.3
12,200
$11,800,000
7
6.3
14,400
$18,980,000
AT A GLANCE
Average Sold Price
$5,599,600
Average Days on Market
35
Average Price Per Sq. Ft.
$1,182
Average Sold to List Price Ratio
97%
©2022 Google. This map represents data shown to the right.
ACCURATE HOME ASSESSMENTS MATTER... Every home is different; so are Realtors and the services they provide. You owe it to yourself to find the best fit for you and your home. We have been in the neighbourhood for over 15+ years and are experts. Call Nancy at 416.520.4785 or nancy@nancyshea.ca.
www.NancyShea.ca
MORRISON HOMES RECENTLY SOLD Age Range
Style
Bedrooms
Washrooms
Building. Est. Sq. Ft.*
Sold Price
Sold Date
Days on Market
31-50 Years
2 Storey
5
2.1
2,600
$2,538,000
06/29/22
21
16-30 Years
2 Storey
6
3.2
8,500
$6,700,000
06/24/22
16
16-30 Years
2 Storey
5
5.1
5,100
$4,580,000
06/15/22
1
6-15 Years
2 Storey
5
4.1
6,200
$4,380,000
05/26/22
17
Unknown
1.5 Storey
4
3.0
3,900
$9,800,000
03/31/22
118
Nancy Shea and RE/MAX Aboutowne Realty are not in any way affiliated with Morrison Owners Association, nor is this in any way an official advertisement or publication of Morrison. © 2022 All rights reserved. This representation is based on sales and data reported by multiple brokers/agents to the OMDREB MLS between March 1st, 2022 and July 12th, 2022. Listings and sales may not be those of RE/MAX Aboutowne Realty. The OMDREB MLS does not guarantee the accuracy of this data, which may not reflect all the real estate activity in the area. E&OE covered. This market report is not intended to solicit properties already listed for sale nor intended to cause a breach of an existing agency relationship. Due to OMDREB MLS regulations, full disclosure of all listing and sold data is only available upon request. *Square footage rounded down to nearest hundred.
Published by REAL Marketing (RM) | www.REALMarketing4You.com | 604.841.1739 | ©2022