Ontario real estate market overview

It’s not a secret that Canada has some of the highest costs of living in the world. Despite this fact, many Canadians could not imagine themselves living anywhere else. This is one of the reasons for buying a home in this wonderful country. But, many turbulences that hit the Canadian real estate market during the last few years. Nevertheless, we’re still discussing one of the most desirable countries for living in the world. Ontario is the most populous of the thirteen provinces in this country, with over 14.2 million residents. This province includes over 50 cities and if you consider any of them, you can count on the relocation services Canada movers offer. But before you pick an ideal place for you in Canada, take a look at our Ontario real estate market overview. We’ll help you choose the right place in this area.

Quick Ontario real estate market overview

Although this province is home to some of the most desirable cities in the country, residential sales activity in January 2023 was down sharply by 38.3% compared to January last year. The average price of homes sold across the Ontario province in January this year was $798,835. This is a large decline of 20.1% from January 2022. Wondering what about the rest of the country’s residential sales activity?

The housing market in the country currently records a significant decline.

Although the real estate market in the country records sharp declines, numbers vary from province to province. Overall, the real estate market in Canada was unsustainably hot during the COVID-19 pandemic with prices up by even 50 percent. But the situation has cooled off completely. Now we can see real estate prices all over the country lower than anyone expected. The historical rise in interest rates hit the housing market in the country and now experts, sellers, and homebuyers hoping for new changes.

But what you should do in the meanwhile? Our moving experts from Centennial Moving Canada will help you adjust to current Canadian housing trends and opt for the best solution. Will you wait up until you put your property on the market? Or you will take an advantage of low home prices to move your home finally?

The drops are inevitable

One thing is for sure, we can expect to see further declines in some cities in Ontario. Also, western parts of Canada are also set to see further drops. The question is, is it now the right moment to purchase a home and move with long distance movers Canada team? Unluckily, no one can predict what is about to happen in Canada’s real estate market. So, after reading this Ontario real estate market overview, decide according to your needs and preferences.

There are plenty of reasons to move to the Ontario province

In case you came to Canada as a student, you can barely experience the half of things this country can offer you. This is a paradise for curious and active people who enjoys every free moment of their life. Also, this country offers you an outstanding quality of life, has a strong and growing economy, and abounds with natural beauty. Also, we are talking about a multicultural and immigrant-friendly country with free health care and free schooling at some of the world’s best educational institutions. Besides, cities in Ontario have a great public transportation system, which means you can get around easily without a car. In case you would rather keep your vehicle although you are coming to Ontario from another province or country, our car movers Canada team will help you transport it smoothly.

Choose the right neighborhood

Before you start looking for a home in any of Ontario’s cities, get to know some of the neighborhoods that suit your needs. Luckily, cities such as Toronto and Ottawa are known for numerous incredible neighborhoods. In addition, your new neighbors are famous for their kindness. People are welcoming and polite which makes this area a wonderful environment to raise a family or retire.

All the mentioned factors affect the costs of living in this country. Undeniably, Canada is among some of the most expensive countries to live in. But when you realize what benefits you can enjoy living in this county, you will not hesitate to start looking for a home in Canada. The question is, which part of this magnificent country to choose to move to?

You can have it all in Ontario, Canada

Regardless of your profession and age, choosing the perfect place to move to is challenging. Nevertheless, once you find a home in the city that suits your plans and lifestyle, you are able to completely change your life. When you live in Canada, there are plenty of opportunities for you wherever you go. However, certain cities in Ontario offer more job opportunities than others. For instance, you might like some smaller cities more. But large cities such as Toronto are where all your family members can find perfect jobs.

Also, this is a phenomenal explanation of why you will need more money to rent or buy a home in Toronto, Ottawa, Mississauga, etc. Luckily, our best cross Canada movers will offer you affordable services wherever you decide to go. To help you pick the right province according to your needs, let’s see some costs to expect in Ontario.

Enjoy the perfect balance between living in a big city and proximity to rich nature and fresh air.

Ontario is one most desirable areas to move to, so check the Ontario real estate market overview

As we already mention, Ontario is the most populated province in the country. There is a long list of reasons for it. Although this is the most expensive province in Canada, it is not a reason to give up on hiring one of the finest moving companies in Ontario once you find a job or a home there. As a single, you can expect to spend $1,825 on housing per month, $253 for groceries per month, and $156 for transportation. If you opt for Toronto, you should know that the median rent for a 1-bedroom apartment currently is $2,350.

The median home sold price in the Greater Toronto Area decreased 16% year-over-year which leads to $1,038,668 for January 2023. Compared to the prices in the last couple of years, this is a significantly more affordable time to consider buying in Ontario province.

Don’t miss to research the Ontario real estate market overview.

Before you opt for any other, more affordable area for living in Canada, remember what you will get in Ontario. Firstly, this is one of the most desirable areas for educational institutions. Ontario is home to the University of Toronto with a variety of programs of study, McMaster University, the University of Waterloo, etc. Secondly, unemployment rates in Ontario are low and here you can find jobs with better salaries. Often, Ontario province is experiencing a skills shortage in specific areas.

For this reason, many are flocking to the area from all across the country. Whether you are a nurse, truck driver, heavy equipment operator, or contractor, you can find a well-paid job in Ontario. Thirdly, this area is a family-friendly environment with great cultural diversity and greater quality of life. You will not regret your decision, for sure.

Opt for moving to Ontario from Saskatchewan to Ontario

Although living in Saskatchewan is a lot more affordable than in Ontario, many people would leave Saskatchewan for Ontario. Falling home prices in many of Ontario’s major housing markets over recent months give people more reasons for thinking about relocation. This province in western Canada is known for its high-quality life and affordable costs of living. However, people leave Saskatchewan for reasons such as:

• education
• career
• higher-paid job opportunities.

Although they are moving to other countries, they often move to Ontario.

Since you know some basic costs of living in Ontario (listed above) you can compare them with the costs of living in Saskatchewan. As a single, you can expect to spend $938 on housing per month, $306 for groceries per month, and $88 for transportation in Saskatchewan. You can notice higher costs for groceries compared to Ontario, but transportation and housing costs are more affordable.

Our Ontario real estate market overview will help you pick the right housing solution for you at this moment.

Saskatchewan has scenic provincial parks and an abundance of sports and recreation opportunities. The vibrant art and culture scene in this province gives many opportunities for spending quality time in this area. Since this place is the birthplace of Medicare, its residents enjoy excellent medical services and free medical care. However, if you get a job offer in Ontario, you shouldn’t miss it. Of course, you can always get back to Saskatchewan where owning a home is more affordable and achievable for most people.

If you’re concerned about relocation issues, we have excellent news. Our moving specialists for moving from Saskatchewan to Ontario will help you organize and conduct your move in no time. With our efficient services, you’re just a step away from your big life chapter in Ontario.

Research Ontario real estate market overview and leave British Columbia

There is no doubt that British Columbia is one of the most appealing provinces in Canada. Here you will fall in love with stunning mountain ranges, lush forests, stunning mountain ranges, incredible coastlines, etc. It is an incredible place to work, study, and live surrounded by an abundance of natural beauty at every corner. Just like the rest of Canada, BC is a safe place to live with low crime rates compared to many other places on the globe.

Despite so many different reasons to live in British Columbia, you might want to look for a fresh start somewhere in Ontario province. So, our long distance movers BC team advise you to get to know the differences between Ontario and BC when it comes to the cost of living. This way you will be prepared for this transition without unwanted expenses you didn’t know about.

If you ever decide to leave Ontario and come back to British Columbia, you can count on us to lend you a helping hand.

Luckily, many statists say that you can expect similar costs in Ontario once you come from BC. As a single, you can expect to spend $1,588 on housing per month, $262 for groceries per month, and $85 for transportation in British Columbia. Although the cost of food is the same, transportation and housing costs are lower in BC than in Ontario. Fortunately, you can make a balance between mentioned prices by spending more time in search of affordable housing in Ontario. Once you find a home that works for you, our experts for moving from BC to Ontario will be at your disposal. We’ll be glad to participate in this huge step in your life and help you conduct plans with our exceptional moving services.

Consider moving from Alberta to Ontario

If you have ever visited Alberta then you know this province has stunning landscapes and a high standard of living. According to different surveys, this province has the highest median household income in Canada. This province has a strong and growing job market known for higher wages in many fields. Although here it is more expensive to become a homeowner compared to Saskatchewan, this province has better availability of properties.

But just like every other area, Alberta has its cons. There are some reasons why people what to try their luck in other provinces. Luckily, Alberta has higher crime rates than other provides in the country. Although Alberta is known for low taxes and excellent health care, it has less open water and colder winters, especially in the north of the province. Also, if you are a watersport or nightlife lover, you should consider some other province.

Let us help you move to or from Alberta, Canada.

As a single, you can expect to spend $1,592 on housing per month, $277 for groceries per month, and $100 for transportation. As you can see, only housing costs and transportation are slightly cheaper in Alberta than in Ontario. So, the Ontario real estate market overview is not that different from Alberta’s when it comes to prices. Of course, the main differences vary from city to city. If you are thinking about hiring our movers for moving from Alberta to Ontario, all you need to know is when you are ready to move. Together we will set your moving date and help you on your way to Ontario.

References:

https://www.realtor.ca/british-columbia/real-estate

https://wowa.ca/ontario-housing-market

https://creastats.crea.ca/board/area/

Market Statistics