ee real estate blog

Q Condos
Erik Erwin Erik Erwin

Q Condos

Interested in owning Pre-Construction? Here is your chance!

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What to Expect in 2023
Erik Erwin Erik Erwin

What to Expect in 2023

In 2022, the housing market experienced a correction phase, with a peak in February and a fairly steep decline from March to July and fairly flat since then. In January, the low inventory in Waterloo Region resulted in a significant rise in the average sale price for all housing types compared to December 2022. The shortage of inventory is propping up the market and leading to more multiple offers. However, there is a potential concern for the spring season, when there is typically an influx of inventory. It remains to be seen if there will be enough demand from buyers to absorb this additional supply, or if it will result in longer days on market and declining prices. While any potential price softening is a concern, it is unlikely to be as severe as the decreases seen from March to July 2022.

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