Prices Starting To Stabilize
We have been noticing good activity recently in all parts of the GTA, sales are starting to increase as buyers are viewing homes and making purchases.
Currently, there is a good influx of inventory from last year with days on the market of 30-90. This is a good opportunity for Buyers to bargain and select the best home for their family’s need. As I mentioned in my previous email that there is a possibility for interest rates to roll back.
On Wednesday, Jan. 17, 2019, the Royal Bank of Canada lowered its posted five-year fixed rate by 15 basis points from 3.89 percent to 3.74 percent and we expect other banks to follow.
While there is evidence of a slowdown in the global economy, this does not necessarily translate to reduced home prices in the GTA.
We still have a big housing crisis in Toronto and surrounding neighborhoods.
The demand is high, evidence to this is the amount of bidding happening for rentals and as result rent prices are at an all-time high.
With optimism that U.S-China trade agreement will be finalized, some of the tension that is slowing down the global economy will be offset. So make sure you are taking full advantage of today’s real estate market.
That means if you are a Buyer purchasing the right properties, and a Seller, marketing your home for max exposure, don’t squander around with preventable mistakes.
To view sold prices use our sold search map and for a free consultation please email us at firstname.lastname@example.org
Happy shopping or selling!
Sold History Team