Riverdale, Playter Estates - Danforth: 2022 Year-in-Review
Riverdale, Playter Estates - Danforth: Median prices
The real estate market in the M4K postal code area experienced significant changes from 2021 to 2022. The median sales price in the area increased from an average of $1,503,538 in 2021 to $1,537,850 in 2022, which represents a 2.3% growth.
The first half of the 2022 year was a particularly active period, with median sales prices reaching a high of $1,872,500 in May, a 15% increase from the same period in 2021. The prices then dipped during the latter part of the year as central bank interest rate hikes put pressure on the housing market.
Median sales prices in the area remained on average higher than the previous year but 24% lower than peak prices seen in early 2022.
Riverdale, Playter Estates - Danforth: Units Sold
The data for units sold in 2022 in the North Riverdale, Playter Estates - Danforth M4K postal code area shows a total of 193 units sold throughout the year, with an average of 16 units sold per month. On a month-over-month basis, the market saw fluctuations in the number of units sold, with the highest sales occurring in March with 33 units sold and the lowest in December with only 3 units sold.
Neighbourhood Market Conditions & Canadian Econonic Uncertainty:
The changes in the number of units sold in 2022 and the drop in median sale prices can be attributed to various factors, including market conditions and economic uncertainties. The Bank of Canada's interest rate hikes throughout 2022 played a key role in the changes in the real estate market in the M4K postal code area because interest rate increases impact the affordability of home ownership, causing a slowdown in the number of units sold and a decrease in the median sale prices.
However, despite the fluctuations, the market in the M4K postal code area including North Riverdale & Playter Estates - Danforth remained stable, with a consistent distribution of sales throughout the year. The trend suggests that the real estate market in the area was impacted by economic uncertainties, but remained resilient and stable.
For more up to date information on the real estate market in the North Riverdale and Playter Estates - Danforth neighbourhoods and to find out how this relates to your imminent home sale or purchase, contact Angela Mandalas at 416-906-2122 | firstname.lastname@example.org.
Angela Mandalas, Sales Representative
Certified Luxury Home Marketing Specialist, Million Dollar Guild Member
Diamond Award (2022, 2021, 2018, 2017, 2016), Award of Excellence (2015), President's Award (2014, 2019)