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Greater Sudbury Real Estate Blog

Market updates, buying and selling guidance, Ontario real estate information and straight answers for people making real decisions in Greater Sudbury.

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Nov. 2, 2022

Greater Sudbury House Market: October 2022

Greater Sudbury House Market: October 2022

In October 2022, Greater Sudbury’s house activity totals 159 new listings and 111 sold closings. The resulting 69.81% flow ratio is a useful measure of monthly market movement when it is kept separate from inventory and same-property conversion.

October 2022 at a glance

New house listings

159

Sold house closings

111

Same-period flow ratio

69.81%

House activity recorded during October 2022
New listings159
Sold closings111

At 69.81%, sold closings represent a substantial share of the month’s new-listing count. The two event groups are not matched property by property, so the ratio is best used as a broad activity signal for October 2022.

How the month compares

Comparison New listings Sold closings
October 2022 159 111
Change from previous month -9.7% -36.2%
October 2021 182 183
Change from one year earlier -12.6% -39.3%
12 months ending October 2022 2,526 2,001

Activity contracts from the previous month, with new listings down 9.7% and sold closings down 36.2%. That shared slowdown is important in a fall period: it describes fewer events, not automatically weaker value for every home.

Compared with October 2021, this month records 12.6% fewer new listings and 39.3% fewer sold closings. That year-over-year view helps separate the current month from ordinary calendar swings, while still leaving room for differences in price range, location and property condition.

What buyers can take from October 2022

The 159 new-listing events show the number of fresh house opportunities entering the Greater Sudbury house segment during the month. They do not reveal how those homes are distributed by neighbourhood, price or condition. A buyer should compare the specific homes available now, then use recent comparable sales to decide where competition is real and where a condition or price adjustment may be reasonable.

The 111 closings belong to agreements often negotiated before October 2022. They show completed demand, but they are not a count of offers being written today. Buyers can protect themselves by keeping financing current, reviewing disclosures and inspection options, and setting a maximum price from the payment and property—not from the monthly ratio alone.

What sellers can take from October 2022

For a seller, 159 new listings define the month’s incoming competition. The most useful comparison set is narrower: similar homes in the same part of Greater Sudbury, near the same price and in comparable condition. A launch price should reflect that live competition as well as completed sales.

The 69.81% flow ratio helps describe the overall pace, but it does not guarantee a sale. Presentation, access, photography, disclosure, offer terms and adjustment timing remain property-level decisions. If early showing and inquiry patterns are weaker than comparable listings, respond to that evidence rather than waiting for a citywide headline to solve the mismatch.

How to use the 12-month view

The 12 months ending October 2022 contain 2,526 new-listing events and 2,001 sold-closing events. That longer window softens some monthly seasonality and gives a more stable sense of market scale. It should still be paired with the latest comparable properties because a rolling annual total can include conditions that are no longer dominant.

What these counts include

This October 2022 snapshot covers houses within the City of Greater Sudbury. New-listing events are assigned by listing-contract date and sold-closing events by valid closing date. The same-period flow ratio divides the month’s sold closings by its new listings; it is not inventory, absorption, days on market or same-listing conversion.

Source: aggregated MLS® house listing and closing records for the City of Greater Sudbury. Condominiums, vacant land and multi-residential properties may follow different patterns. These figures do not measure every property type or forecast the next month.

Place the October 2022 figures in the longer record with the Greater Sudbury market-history hub, or compare locations and daily-life priorities with the Living in Greater Sudbury guides.

Monthly scope: October 1–31, 2022. Counts cover the house segment described above.

Expect Moore for Your Real Estate.
— Chad Moore, REALTOR®
— Lake City Realty Ltd., Brokerage

Posted in Greater Sudbury Market Updates & Analysis
no comments yet
Oct. 26, 2022

Bank of Canada Raises to 3.75%: October 26, 2022

Bank of Canada Raises to 3.75%: October 26, 2022

The Bank of Canada raises to 3.75% on October 26, 2022. The 50-basis-point increase moves the announced target from 3.25%. The economy is slowing before inflation is fully contained. The new target takes effect on October 27, 2022.

The decision at a glance

Policy measure Announcement
Overnight target 3.75%
Change +50 basis points
Bank Rate 4.00%
Deposit rate 3.75%

The economy is slowing before inflation is fully contained

Higher rates are visibly affecting housing, household spending and business demand. Weaker international growth is also weighing on exports. The Bank expects Canadian growth to stall near the end of this year and through the first half of 2023. Its annual forecast falls from 3.25% in 2022 to just under 1% in 2023, before recovering to 2% in 2024.

Despite that slowdown, the economy still has excess demand and a tight labour market. Inflation falls from 8.1% to 6.9% over three months, mainly because gasoline is cheaper. Two-thirds of consumer-price components are nevertheless rising by more than 5%, and core measures do not yet show a meaningful easing of underlying pressure.

The Bank chooses a half-point increase and still expects further increases. It is weighing the delayed effects of earlier moves against the risk that high inflation becomes entrenched. Inflation is projected to reach about 3% by late 2023 and 2% by late 2024. For households, slower growth and higher financing costs need to be considered together: a purchase budget should withstand both payment pressure and a less certain income outlook.

What this means for a mortgage

The overnight target influences short-term borrowing costs, including lender prime rates. Variable mortgages and home-equity lines of credit are more directly exposed to prime-rate changes. Fixed mortgage offers also depend on bond yields, funding costs, the term and lender competition; they can move even when the Bank holds.

The Bank’s weekly lender series around this announcement provides the following posted reference rates. These are typical posted rates at six major chartered banks, not discounted offers or an assurance of the rate a borrower can obtain. They should not be read as proof that a lender has already passed through today’s decision.

Posted reference Rate
Prime 5.45%
One-year conventional mortgage 6.09%
Three-year conventional mortgage 6.04%
Five-year conventional mortgage 6.49%

Payment illustration: a $300,000 mortgage amortized over 25 years at the 6.49% posted five-year rate is approximately $2,008 per month for principal and interest, using Canadian semi-annual compounding. This is an illustration, not a lender quote. Taxes, insurance, utilities, closing costs and qualification requirements are separate.

Put the announcement into a Greater Sudbury plan

Buying or renewing

Ask for written figures using your balance, down payment and amortization. Compare payment mechanics, prepayment options, penalties and the cash left after closing. A variable mortgage with fixed payments may change how much principal you repay instead of changing the payment immediately; the contract determines the result.

Preparing to sell

Financing affects what buyers can carry, but it does not set one price for every home. Compare recent sales and active alternatives in the same neighbourhood and price range. Condition, carrying costs, presentation and offer terms remain central to the decision.

Official announcement: Bank of Canada, October 26, 2022. The national policy decision does not, by itself, establish a change in Greater Sudbury property values.

For a local plan, explore the Buyer Experience or Seller Experience. You can also browse the Bank of Canada Decisions & Mortgage Rate Context Archive.

Expect Moore for Your Real Estate.
— Chad Moore, REALTOR®
— Lake City Realty Ltd., Brokerage

Posted in Mortgage Rates & Home Financing
no comments yet
Oct. 5, 2022

Greater Sudbury House Market: September 2022

Greater Sudbury House Market: September 2022

September 2022 brings 176 new house listings and 174 sold closings across the City of Greater Sudbury. That is a 98.86% same-period flow ratio, a compact signal of activity rather than a claim about every neighbourhood or property type.

September 2022 at a glance

New house listings

176

Sold house closings

174

Same-period flow ratio

98.86%

House activity recorded during September 2022
New listings176
Sold closings174

The 98.86% same-period flow ratio shows sold closings running relatively close to new-listing activity in September 2022. It points to a tighter monthly flow, but it is not an inventory measure and does not prove how quickly any one home will sell.

How the month compares

Comparison New listings Sold closings
September 2022 176 174
Change from previous month -22.1% +1.2%
September 2021 182 181
Change from one year earlier -3.3% -3.9%
12 months ending September 2022 2,549 2,073

The two activity streams move in different directions from the previous month. New listings are down 22.1%, while sold closings are up 1.2%. This split can change the negotiating experience even when one headline count looks stable.

Compared with September 2021, this month records 3.3% fewer new listings and 3.9% fewer sold closings. That year-over-year view helps separate the current month from ordinary calendar swings, while still leaving room for differences in price range, location and property condition.

What buyers can take from September 2022

The 176 new-listing events show the number of fresh house opportunities entering the Greater Sudbury house segment during the month. They do not reveal how those homes are distributed by neighbourhood, price or condition. A buyer should compare the specific homes available now, then use recent comparable sales to decide where competition is real and where a condition or price adjustment may be reasonable.

The 174 closings belong to agreements often negotiated before September 2022. They show completed demand, but they are not a count of offers being written today. Buyers can protect themselves by keeping financing current, reviewing disclosures and inspection options, and setting a maximum price from the payment and property—not from the monthly ratio alone.

What sellers can take from September 2022

For a seller, 176 new listings define the month’s incoming competition. The most useful comparison set is narrower: similar homes in the same part of Greater Sudbury, near the same price and in comparable condition. A launch price should reflect that live competition as well as completed sales.

The 98.86% flow ratio helps describe the overall pace, but it does not guarantee a sale. Presentation, access, photography, disclosure, offer terms and adjustment timing remain property-level decisions. If early showing and inquiry patterns are weaker than comparable listings, respond to that evidence rather than waiting for a citywide headline to solve the mismatch.

How to use the 12-month view

The 12 months ending September 2022 contain 2,549 new-listing events and 2,073 sold-closing events. That longer window softens some monthly seasonality and gives a more stable sense of market scale. It should still be paired with the latest comparable properties because a rolling annual total can include conditions that are no longer dominant.

What these counts include

This September 2022 snapshot covers houses within the City of Greater Sudbury. New-listing events are assigned by listing-contract date and sold-closing events by valid closing date. The same-period flow ratio divides the month’s sold closings by its new listings; it is not inventory, absorption, days on market or same-listing conversion.

Source: aggregated MLS® house listing and closing records for the City of Greater Sudbury. Condominiums, vacant land and multi-residential properties may follow different patterns. These figures do not measure every property type or forecast the next month.

Place the September 2022 figures in the longer record with the Greater Sudbury market-history hub, or compare locations and daily-life priorities with the Living in Greater Sudbury guides.

Monthly scope: September 1–30, 2022. Counts cover the house segment described above.

Expect Moore for Your Real Estate.
— Chad Moore, REALTOR®
— Lake City Realty Ltd., Brokerage

Posted in Greater Sudbury Market Updates & Analysis
no comments yet
Sept. 7, 2022

Bank of Canada Raises to 3.25%: September 7, 2022

Bank of Canada Raises to 3.25%: September 7, 2022

The Bank of Canada raises to 3.25% on September 7, 2022. The 75-basis-point increase moves the announced target from 2.50%. Cheaper gasoline does not resolve underlying inflation. The new target takes effect on September 8, 2022.

The decision at a glance

Policy measure Announcement
Overnight target 3.25%
Change +75 basis points
Bank Rate 3.50%
Deposit rate 3.25%

Cheaper gasoline does not resolve underlying inflation

July inflation falls to 7.6% from 8.1%, but the improvement mainly reflects gasoline. Inflation excluding gasoline increases, price pressure broadens in services and core measures rise to between 5% and 5.5%. The Bank is therefore not treating the lower headline reading as sufficient evidence that inflation is under control.

Second-quarter GDP grows at an annualized 3.3% pace, below the Bank’s forecast. Underneath that result, consumption rises about 9.5% and business investment nearly 12%, also at annualized rates. Domestic demand remains strong and labour markets are tight. Housing is pulling back as mortgage costs rise, while weaker global demand should further slow activity in the second half.

The 75-basis-point increase and continuing quantitative tightening are intended to bring spending into better balance with supply. The Bank still expects rates to rise further, but is assessing how much additional restraint is needed. A borrower should plan for that uncertainty rather than assume one lower inflation report marks the end of increases. Local purchase and sale decisions still require current comparable properties, not only the national headline.

What this means for a mortgage

The overnight target influences short-term borrowing costs, including lender prime rates. Variable mortgages and home-equity lines of credit are more directly exposed to prime-rate changes. Fixed mortgage offers also depend on bond yields, funding costs, the term and lender competition; they can move even when the Bank holds.

The Bank’s weekly lender series around this announcement provides the following posted reference rates. These are typical posted rates at six major chartered banks, not discounted offers or an assurance of the rate a borrower can obtain. They should not be read as proof that a lender has already passed through today’s decision.

Posted reference Rate
Prime 4.70%
One-year conventional mortgage 5.19%
Three-year conventional mortgage 5.64%
Five-year conventional mortgage 6.14%

Payment illustration: a $300,000 mortgage amortized over 25 years at the 6.14% posted five-year rate is approximately $1,944 per month for principal and interest, using Canadian semi-annual compounding. This is an illustration, not a lender quote. Taxes, insurance, utilities, closing costs and qualification requirements are separate.

Put the announcement into a Greater Sudbury plan

Buying or renewing

Ask for written figures using your balance, down payment and amortization. Compare payment mechanics, prepayment options, penalties and the cash left after closing. A variable mortgage with fixed payments may change how much principal you repay instead of changing the payment immediately; the contract determines the result.

Preparing to sell

Financing affects what buyers can carry, but it does not set one price for every home. Compare recent sales and active alternatives in the same neighbourhood and price range. Condition, carrying costs, presentation and offer terms remain central to the decision.

Official announcement: Bank of Canada, September 7, 2022. The national policy decision does not, by itself, establish a change in Greater Sudbury property values.

For a local plan, explore the Buyer Experience or Seller Experience. You can also browse the Bank of Canada Decisions & Mortgage Rate Context Archive.

Expect Moore for Your Real Estate.
— Chad Moore, REALTOR®
— Lake City Realty Ltd., Brokerage

Posted in Mortgage Rates & Home Financing
no comments yet
Sept. 7, 2022

Greater Sudbury House Market: August 2022

Greater Sudbury House Market: August 2022

Greater Sudbury records 226 new house-listing events and 172 sold-closing events in August 2022. The same-period flow ratio is 76.11%, giving buyers and sellers a clear view of how much activity is moving through the local house segment this month.

August 2022 at a glance

New house listings

226

Sold house closings

172

Same-period flow ratio

76.11%

House activity recorded during August 2022
New listings226
Sold closings172

At 76.11%, sold closings represent a substantial share of the month’s new-listing count. The two event groups are not matched property by property, so the ratio is best used as a broad activity signal for August 2022.

How the month compares

Comparison New listings Sold closings
August 2022 226 172
Change from previous month -9.6% -11.8%
August 2021 197 195
Change from one year earlier +14.7% -11.8%
12 months ending August 2022 2,555 2,080

Activity contracts from the previous month, with new listings down 9.6% and sold closings down 11.8%. That shared slowdown is important in a late-summer period: it describes fewer events, not automatically weaker value for every home.

Compared with August 2021, this month records 14.7% more new listings and 11.8% fewer sold closings. That year-over-year view helps separate the current month from ordinary calendar swings, while still leaving room for differences in price range, location and property condition.

What buyers can take from August 2022

The 226 new-listing events show the number of fresh house opportunities entering the Greater Sudbury house segment during the month. They do not reveal how those homes are distributed by neighbourhood, price or condition. A buyer should compare the specific homes available now, then use recent comparable sales to decide where competition is real and where a condition or price adjustment may be reasonable.

The 172 closings belong to agreements often negotiated before August 2022. They show completed demand, but they are not a count of offers being written today. Buyers can protect themselves by keeping financing current, reviewing disclosures and inspection options, and setting a maximum price from the payment and property—not from the monthly ratio alone.

What sellers can take from August 2022

For a seller, 226 new listings define the month’s incoming competition. The most useful comparison set is narrower: similar homes in the same part of Greater Sudbury, near the same price and in comparable condition. A launch price should reflect that live competition as well as completed sales.

The 76.11% flow ratio helps describe the overall pace, but it does not guarantee a sale. Presentation, access, photography, disclosure, offer terms and adjustment timing remain property-level decisions. If early showing and inquiry patterns are weaker than comparable listings, respond to that evidence rather than waiting for a citywide headline to solve the mismatch.

How to use the 12-month view

The 12 months ending August 2022 contain 2,555 new-listing events and 2,080 sold-closing events. That longer window softens some monthly seasonality and gives a more stable sense of market scale. It should still be paired with the latest comparable properties because a rolling annual total can include conditions that are no longer dominant.

What these counts include

This August 2022 snapshot covers houses within the City of Greater Sudbury. New-listing events are assigned by listing-contract date and sold-closing events by valid closing date. The same-period flow ratio divides the month’s sold closings by its new listings; it is not inventory, absorption, days on market or same-listing conversion.

Source: aggregated MLS® house listing and closing records for the City of Greater Sudbury. Condominiums, vacant land and multi-residential properties may follow different patterns. These figures do not measure every property type or forecast the next month.

Place the August 2022 figures in the longer record with the Greater Sudbury market-history hub, or compare locations and daily-life priorities with the Living in Greater Sudbury guides.

Monthly scope: August 1–31, 2022. Counts cover the house segment described above.

Expect Moore for Your Real Estate.
— Chad Moore, REALTOR®
— Lake City Realty Ltd., Brokerage

Posted in Greater Sudbury Market Updates & Analysis
no comments yet
Aug. 3, 2022

Greater Sudbury House Market: July 2022

Greater Sudbury House Market: July 2022

In July 2022, Greater Sudbury’s house activity totals 250 new listings and 195 sold closings. The resulting 78.00% flow ratio is a useful measure of monthly market movement when it is kept separate from inventory and same-property conversion.

July 2022 at a glance

New house listings

250

Sold house closings

195

Same-period flow ratio

78.00%

House activity recorded during July 2022
New listings250
Sold closings195

At 78.00%, sold closings represent a substantial share of the month’s new-listing count. The two event groups are not matched property by property, so the ratio is best used as a broad activity signal for July 2022.

How the month compares

Comparison New listings Sold closings
July 2022 250 195
Change from previous month -24.7% -9.7%
July 2021 206 200
Change from one year earlier +21.4% -2.5%
12 months ending July 2022 2,526 2,103

Activity contracts from the previous month, with new listings down 24.7% and sold closings down 9.7%. That shared slowdown is important in a summer period: it describes fewer events, not automatically weaker value for every home.

Compared with July 2021, this month records 21.4% more new listings and 2.5% fewer sold closings. That year-over-year view helps separate the current month from ordinary calendar swings, while still leaving room for differences in price range, location and property condition.

What buyers can take from July 2022

The 250 new-listing events show the number of fresh house opportunities entering the Greater Sudbury house segment during the month. They do not reveal how those homes are distributed by neighbourhood, price or condition. A buyer should compare the specific homes available now, then use recent comparable sales to decide where competition is real and where a condition or price adjustment may be reasonable.

The 195 closings belong to agreements often negotiated before July 2022. They show completed demand, but they are not a count of offers being written today. Buyers can protect themselves by keeping financing current, reviewing disclosures and inspection options, and setting a maximum price from the payment and property—not from the monthly ratio alone.

What sellers can take from July 2022

For a seller, 250 new listings define the month’s incoming competition. The most useful comparison set is narrower: similar homes in the same part of Greater Sudbury, near the same price and in comparable condition. A launch price should reflect that live competition as well as completed sales.

The 78.00% flow ratio helps describe the overall pace, but it does not guarantee a sale. Presentation, access, photography, disclosure, offer terms and adjustment timing remain property-level decisions. If early showing and inquiry patterns are weaker than comparable listings, respond to that evidence rather than waiting for a citywide headline to solve the mismatch.

How to use the 12-month view

The 12 months ending July 2022 contain 2,526 new-listing events and 2,103 sold-closing events. That longer window softens some monthly seasonality and gives a more stable sense of market scale. It should still be paired with the latest comparable properties because a rolling annual total can include conditions that are no longer dominant.

What these counts include

This July 2022 snapshot covers houses within the City of Greater Sudbury. New-listing events are assigned by listing-contract date and sold-closing events by valid closing date. The same-period flow ratio divides the month’s sold closings by its new listings; it is not inventory, absorption, days on market or same-listing conversion.

Source: aggregated MLS® house listing and closing records for the City of Greater Sudbury. Condominiums, vacant land and multi-residential properties may follow different patterns. These figures do not measure every property type or forecast the next month.

Place the July 2022 figures in the longer record with the Greater Sudbury market-history hub, or compare locations and daily-life priorities with the Living in Greater Sudbury guides.

Monthly scope: July 1–31, 2022. Counts cover the house segment described above.

Expect Moore for Your Real Estate.
— Chad Moore, REALTOR®
— Lake City Realty Ltd., Brokerage

Posted in Greater Sudbury Market Updates & Analysis
no comments yet
July 13, 2022

Bank of Canada Raises to 2.50%: July 13, 2022

Bank of Canada Raises to 2.50%: July 13, 2022

The Bank of Canada raises to 2.50% on July 13, 2022. The 100-basis-point increase moves the announced target from 1.50%. A full-point increase aims to get ahead of inflation. The new target takes effect on July 14, 2022.

The decision at a glance

Policy measure Announcement
Overnight target 2.50%
Change +100 basis points
Bank Rate 2.75%
Deposit rate 2.50%

A full-point increase aims to get ahead of inflation

The Bank raises its target by 100 basis points, choosing to deliver more tightening immediately. Inflation is higher and more persistent than it expected in April and is likely to remain around 8% in the coming months. More than half of consumer-price components are rising by over 5%, while core measures range from 3.9% to 5.4%.

Strong domestic demand is adding to global supply and commodity pressures. Unemployment is at a record low, labour shortages are widespread and businesses can pass higher costs through to customers. The Bank estimates second-quarter growth at about a 4% annualized pace, slowing to roughly 2% in the third quarter as consumption moderates and housing pulls back.

Surveys show more households and businesses expecting inflation to stay high. The Bank wants to prevent those expectations from shaping wages and prices permanently. It forecasts Canadian growth of 3.5% in 2022 and 1.75% in 2023, with inflation returning to 2% by late 2024. Further increases are still expected. Buyers should revisit approvals promptly, while sellers should recognize that a larger financing shock can change what otherwise interested buyers can carry.

What this means for a mortgage

The overnight target influences short-term borrowing costs, including lender prime rates. Variable mortgages and home-equity lines of credit are more directly exposed to prime-rate changes. Fixed mortgage offers also depend on bond yields, funding costs, the term and lender competition; they can move even when the Bank holds.

The Bank’s weekly lender series around this announcement provides the following posted reference rates. These are typical posted rates at six major chartered banks, not discounted offers or an assurance of the rate a borrower can obtain. They should not be read as proof that a lender has already passed through today’s decision.

Posted reference Rate
Prime 3.70%
One-year conventional mortgage 4.74%
Three-year conventional mortgage 5.39%
Five-year conventional mortgage 6.04%

Payment illustration: a $300,000 mortgage amortized over 25 years at the 6.04% posted five-year rate is approximately $1,927 per month for principal and interest, using Canadian semi-annual compounding. This is an illustration, not a lender quote. Taxes, insurance, utilities, closing costs and qualification requirements are separate.

Put the announcement into a Greater Sudbury plan

Buying or renewing

Ask for written figures using your balance, down payment and amortization. Compare payment mechanics, prepayment options, penalties and the cash left after closing. A variable mortgage with fixed payments may change how much principal you repay instead of changing the payment immediately; the contract determines the result.

Preparing to sell

Financing affects what buyers can carry, but it does not set one price for every home. Compare recent sales and active alternatives in the same neighbourhood and price range. Condition, carrying costs, presentation and offer terms remain central to the decision.

Official announcement: Bank of Canada, July 13, 2022. The national policy decision does not, by itself, establish a change in Greater Sudbury property values.

For a local plan, explore the Buyer Experience or Seller Experience. You can also browse the Bank of Canada Decisions & Mortgage Rate Context Archive.

Expect Moore for Your Real Estate.
— Chad Moore, REALTOR®
— Lake City Realty Ltd., Brokerage

Posted in Mortgage Rates & Home Financing
no comments yet
July 6, 2022

Greater Sudbury House Market: June 2022

Greater Sudbury House Market: June 2022

June 2022 brings 332 new house listings and 216 sold closings across the City of Greater Sudbury. That is a 65.06% same-period flow ratio, a compact signal of activity rather than a claim about every neighbourhood or property type.

June 2022 at a glance

New house listings

332

Sold house closings

216

Same-period flow ratio

65.06%

House activity recorded during June 2022
New listings332
Sold closings216

At 65.06%, sold closings represent a substantial share of the month’s new-listing count. The two event groups are not matched property by property, so the ratio is best used as a broad activity signal for June 2022.

How the month compares

Comparison New listings Sold closings
June 2022 332 216
Change from previous month +4.4% -9.6%
June 2021 312 274
Change from one year earlier +6.4% -21.2%
12 months ending June 2022 2,482 2,108

The two activity streams move in different directions from the previous month. New listings are up 4.4%, while sold closings are down 9.6%. This split can change the negotiating experience even when one headline count looks stable.

Compared with June 2021, this month records 6.4% more new listings and 21.2% fewer sold closings. That year-over-year view helps separate the current month from ordinary calendar swings, while still leaving room for differences in price range, location and property condition.

What buyers can take from June 2022

The 332 new-listing events show the number of fresh house opportunities entering the Greater Sudbury house segment during the month. They do not reveal how those homes are distributed by neighbourhood, price or condition. A buyer should compare the specific homes available now, then use recent comparable sales to decide where competition is real and where a condition or price adjustment may be reasonable.

The 216 closings belong to agreements often negotiated before June 2022. They show completed demand, but they are not a count of offers being written today. Buyers can protect themselves by keeping financing current, reviewing disclosures and inspection options, and setting a maximum price from the payment and property—not from the monthly ratio alone.

What sellers can take from June 2022

For a seller, 332 new listings define the month’s incoming competition. The most useful comparison set is narrower: similar homes in the same part of Greater Sudbury, near the same price and in comparable condition. A launch price should reflect that live competition as well as completed sales.

The 65.06% flow ratio helps describe the overall pace, but it does not guarantee a sale. Presentation, access, photography, disclosure, offer terms and adjustment timing remain property-level decisions. If early showing and inquiry patterns are weaker than comparable listings, respond to that evidence rather than waiting for a citywide headline to solve the mismatch.

How to use the 12-month view

The 12 months ending June 2022 contain 2,482 new-listing events and 2,108 sold-closing events. That longer window softens some monthly seasonality and gives a more stable sense of market scale. It should still be paired with the latest comparable properties because a rolling annual total can include conditions that are no longer dominant.

What these counts include

This June 2022 snapshot covers houses within the City of Greater Sudbury. New-listing events are assigned by listing-contract date and sold-closing events by valid closing date. The same-period flow ratio divides the month’s sold closings by its new listings; it is not inventory, absorption, days on market or same-listing conversion.

Source: aggregated MLS® house listing and closing records for the City of Greater Sudbury. Condominiums, vacant land and multi-residential properties may follow different patterns. These figures do not measure every property type or forecast the next month.

Place the June 2022 figures in the longer record with the Greater Sudbury market-history hub, or compare locations and daily-life priorities with the Living in Greater Sudbury guides.

Monthly scope: June 1–30, 2022. Counts cover the house segment described above.

Expect Moore for Your Real Estate.
— Chad Moore, REALTOR®
— Lake City Realty Ltd., Brokerage

Posted in Greater Sudbury Market Updates & Analysis
no comments yet
June 1, 2022

Bank of Canada Raises to 1.50%: June 1, 2022

Bank of Canada Raises to 1.50%: June 1, 2022

The Bank of Canada raises to 1.50% on June 1, 2022. The 50-basis-point increase moves the announced target from 1.00%. Inflation is spreading beyond a few expensive essentials. The new target takes effect on June 2, 2022.

The decision at a glance

Policy measure Announcement
Overnight target 1.50%
Change +50 basis points
Bank Rate 1.75%
Deposit rate 1.50%

Inflation is spreading beyond a few expensive essentials

April inflation reaches 6.8%, above the Bank’s forecast, and is expected to rise further before easing. Almost 70% of consumer-price categories now show inflation above 3%. Core measures range from 3.2% to 5.1%. Those details explain the urgency: the problem is no longer confined to gasoline or a small number of disrupted goods.

Canada’s first-quarter GDP grows at an annualized 3.1% pace. Consumer spending remains strong, job vacancies are elevated and employers report widespread labour shortages. Housing activity is moderating, but the Bank still sees demand exceeding available capacity. At the same time, the war in Ukraine, Chinese lockdowns and supply disruptions are slowing the world economy while pushing prices higher.

The Bank delivers another half-point increase, continues quantitative tightening and says it is prepared to move more forcefully if necessary. It does not specify the next increase. For households, the practical response is to recalculate borrowing costs and keep a margin for further changes. A softer national housing market may create negotiating opportunities, but a lower purchase price is only helpful if the resulting payment is affordable.

What this means for a mortgage

The overnight target influences short-term borrowing costs, including lender prime rates. Variable mortgages and home-equity lines of credit are more directly exposed to prime-rate changes. Fixed mortgage offers also depend on bond yields, funding costs, the term and lender competition; they can move even when the Bank holds.

The Bank’s weekly lender series around this announcement provides the following posted reference rates. These are typical posted rates at six major chartered banks, not discounted offers or an assurance of the rate a borrower can obtain. They should not be read as proof that a lender has already passed through today’s decision.

Posted reference Rate
Prime 3.20%
One-year conventional mortgage 3.79%
Three-year conventional mortgage 4.49%
Five-year conventional mortgage 5.39%

Payment illustration: a $300,000 mortgage amortized over 25 years at the 5.39% posted five-year rate is approximately $1,812 per month for principal and interest, using Canadian semi-annual compounding. This is an illustration, not a lender quote. Taxes, insurance, utilities, closing costs and qualification requirements are separate.

Put the announcement into a Greater Sudbury plan

Buying or renewing

Ask for written figures using your balance, down payment and amortization. Compare payment mechanics, prepayment options, penalties and the cash left after closing. A variable mortgage with fixed payments may change how much principal you repay instead of changing the payment immediately; the contract determines the result.

Preparing to sell

Financing affects what buyers can carry, but it does not set one price for every home. Compare recent sales and active alternatives in the same neighbourhood and price range. Condition, carrying costs, presentation and offer terms remain central to the decision.

Official announcement: Bank of Canada, June 1, 2022. The national policy decision does not, by itself, establish a change in Greater Sudbury property values.

For a local plan, explore the Buyer Experience or Seller Experience. You can also browse the Bank of Canada Decisions & Mortgage Rate Context Archive.

Expect Moore for Your Real Estate.
— Chad Moore, REALTOR®
— Lake City Realty Ltd., Brokerage

Posted in Mortgage Rates & Home Financing
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June 1, 2022

Greater Sudbury House Market: May 2022

Greater Sudbury House Market: May 2022

Greater Sudbury records 318 new house-listing events and 239 sold-closing events in May 2022. The same-period flow ratio is 75.16%, giving buyers and sellers a clear view of how much activity is moving through the local house segment this month.

May 2022 at a glance

New house listings

318

Sold house closings

239

Same-period flow ratio

75.16%

House activity recorded during May 2022
New listings318
Sold closings239

At 75.16%, sold closings represent a substantial share of the month’s new-listing count. The two event groups are not matched property by property, so the ratio is best used as a broad activity signal for May 2022.

How the month compares

Comparison New listings Sold closings
May 2022 318 239
Change from previous month +24.2% +32.0%
May 2021 330 276
Change from one year earlier -3.6% -13.4%
12 months ending May 2022 2,462 2,166

Both sides of the monthly flow expand from the previous month: new-listing activity rises 24.2% and sold-closing activity rises 32.0%. Buyers see more newly listed options, while the higher closing count shows that earlier agreements are also completing at a faster pace.

Compared with May 2021, this month records 3.6% fewer new listings and 13.4% fewer sold closings. That year-over-year view helps separate the current month from ordinary calendar swings, while still leaving room for differences in price range, location and property condition.

What buyers can take from May 2022

The 318 new-listing events show the number of fresh house opportunities entering the Greater Sudbury house segment during the month. They do not reveal how those homes are distributed by neighbourhood, price or condition. A buyer should compare the specific homes available now, then use recent comparable sales to decide where competition is real and where a condition or price adjustment may be reasonable.

The 239 closings belong to agreements often negotiated before May 2022. They show completed demand, but they are not a count of offers being written today. Buyers can protect themselves by keeping financing current, reviewing disclosures and inspection options, and setting a maximum price from the payment and property—not from the monthly ratio alone.

What sellers can take from May 2022

For a seller, 318 new listings define the month’s incoming competition. The most useful comparison set is narrower: similar homes in the same part of Greater Sudbury, near the same price and in comparable condition. A launch price should reflect that live competition as well as completed sales.

The 75.16% flow ratio helps describe the overall pace, but it does not guarantee a sale. Presentation, access, photography, disclosure, offer terms and adjustment timing remain property-level decisions. If early showing and inquiry patterns are weaker than comparable listings, respond to that evidence rather than waiting for a citywide headline to solve the mismatch.

How to use the 12-month view

The 12 months ending May 2022 contain 2,462 new-listing events and 2,166 sold-closing events. That longer window softens some monthly seasonality and gives a more stable sense of market scale. It should still be paired with the latest comparable properties because a rolling annual total can include conditions that are no longer dominant.

What these counts include

This May 2022 snapshot covers houses within the City of Greater Sudbury. New-listing events are assigned by listing-contract date and sold-closing events by valid closing date. The same-period flow ratio divides the month’s sold closings by its new listings; it is not inventory, absorption, days on market or same-listing conversion.

Source: aggregated MLS® house listing and closing records for the City of Greater Sudbury. Condominiums, vacant land and multi-residential properties may follow different patterns. These figures do not measure every property type or forecast the next month.

Place the May 2022 figures in the longer record with the Greater Sudbury market-history hub, or compare locations and daily-life priorities with the Living in Greater Sudbury guides.

Monthly scope: May 1–31, 2022. Counts cover the house segment described above.

Expect Moore for Your Real Estate.
— Chad Moore, REALTOR®
— Lake City Realty Ltd., Brokerage

Posted in Greater Sudbury Market Updates & Analysis
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