Erin

established 1820

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DISCOVER

About Erin

Erin is a town in Wellington County, approximately 80 kilometres northwest of Toronto, Ontario, Canada. The amalgamated town is composed of the former Villages of Erin and Hillsburgh, both urban centres now, as well as the former Township of Erin.

At the headwaters of the Credit and Grand Rivers, Erin’s tree-lined downtown is a pedestrian paradise. Picturesque and historic, you can stroll with a locally roasted coffee from the Tin Roof Café in hand, purchase a gourmet treat from Debora’s Chocolates, and meet friends for lunch on the patio at The Busholme.

Nature is at your doorstep in Erin. Grab a friend and enjoy a hike through the Elora Cataract Trailway. Surrounded by more than 500 trails, including the Grand Valley Trail and Bruce Trails, the opportunities to explore the outdoors are endless in Erin.

market update
market update

Comparative Analysis

  2022 Y/Y M/M
Sales 4 -63.6% -55.6%
New Listings 17 112.5% -5.6%
Average Sale Price $1,600,000 4.0% 2.9%
Median Sale Price $1,650,000 32.0% 22.2%
SNLR* 23.5% -114.0% -26.5%

Source: TRREB Market Watch Report – Summary of Existing Home Transactions (Detached)

*SNLR (Sales-to-New-Listings-Ratio)

  • SNLR at 55% or more indicates a seller’s market; more buyers than properties for sale
  • SNLR between 34% and 54% indicates a balanced market; about the same number of properties for sale as there are buyers
  • SNLR at 35% or less indicates a buyer’s market; more properties for sale than there are buyers
erin
erin

June 2022

Higher borrowing costs continued to impact home sales in June 2022. The Toronto Regional Real Estate Board (TRREB) has released its latest market stats, which show a 41 percent decline in sales compared to last year across all housing types. The average selling price, at $1,146,254, remained 5.3 per cent above the June 2021 level, but continued to trend lower on a monthly basis. Month-over-month the average selling price dipped by 5.5 per cent.

While the number of transactions was down year-over-year, the number of new listings was up in most of our service areas. This has provided for an even greater shift into a buyer’s market, resulting in a more moderate annual pace of price growth.

“Our region continues to grow because we attract people and businesses from all around the world. All of these people will require a place to live, whether they choose to buy or rent. Despite the shorter-term impact of higher borrowing costs, housing demand will remain strong over the long-term, as long as we can produce homes within which people can live. Policy makers at all levels need to make this their key goal,” said TRREB CEO John DiMichele.

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listings

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