You make a purchase, you live in payments. If you’re waiting for prices to come down more, you’re only going to end up paying more. Interest rates have come up by 1.25% with another hike expected in July and another in September. If you bought at the peak in February at low interest rates, you’re still paying less than if …
The housing market has reacted to rising borrowing costs. What a difference a couple of months makes! GTA market sales are down 38.8% year over year. Active listings are up 26% from last year and the market is trending more towards a balanced market with 2.11 MOI. This is definitely a correction, but it’s not a crash. At the peak …
The price is dropping. Compare to March, there has been a 1% decrease, 12K lower, in the average selling price in Mississauga. The number of transactions is also down on a monthly and annual basis. We are seeing a 42% decrease compared to last year and a 32% decrease compared to last month. As mortgage rates rose sharply over the …
The Federal Government has announced a ban on blind bidding, which is set to begin in April of 2023! What does this mean for you as a buyer or seller in the market? Currently, offers are kept private by law from other buyers, the substance of the offer; price, dates, conditions, etc. With the ban on blind bidding, buyers will …
We are experiencing more of a balanced market compared to last year at this time. March 2022 capped off the 3rd best March and 2nd best first quarter on record, where homes are selling at an average of $117,000 more than they were last year at this time! Let’s take a look at the numbers you need to know for …
We have seen a slight balancing in the market so far in 2022. In comparison to the same time last year, sale prices have gone up 27% here in the GTA! Since we are still experiencing very low inventory, it will take some time for the pace of price growth to slow down. Here are the numbers you need to …
Demand for housing ownership in the GTA still remains VERY strong from a historic perspective in January this year. In fact, Toronto just became the most expensive metro market in Canada, beating Vancouver! In comparison to the same time last year, sold prices have gone up another 28.6% here in the GTA! Many (including myself) have said we’ve had low …
In 2021, we saw more of a typical real estate market cycle in comparison to 2020. This December, we saw the same trend of buyers staying in the market over the holidays, and sellers decided to wait, which resulted in another huge discrepancy in the percentage of listings to sales. Here are the numbers you need to know for the …
I’m sure many of you are wondering what to expect in the real estate market next year! This is what we know: 1. Interest rates will increase It won’t make a big difference in the market, but it is believed that interest rates will be rising possibly in Q3 or closer to the end of 2022/beginning of 2023. 2. COVID …
In this video, we go over 5 main reasons why the real estate market set a record year here in Canada during 2021 1. Historical low-interest rates this gave access to money to everybody! Money was cheaper and more people could qualify for MORE money 2. Low Supply There were not enough houses on the market available for sale and …
