That was the longest March Break Ever!!!
Dilynn, Ashwood and Kathryn are super excited to go back to school and see all their friends and teachers. We wish all the remote learning and in school students the absolute best and we appreciate all the teachers doing their BEST to keep them safe.
As September starts, we want to give you an update on the real estate market. We are sure you have noticed it has been remarkably busy. You have probably noticed a lot of for sale signs going up on homes around you, and not far behind is the Sold sign. With the different pricing, marketing and offer presentation strategy, many homes have sold in multiple offers.
Interestingly, back in May CMHC was predicting an 18% DECREASE in sales prices. We predicted that sale prices would go up. We were correct!! Since May sale prices increased.
|
Average Sale Price |
|||
|
Area |
May, 2020 |
August, 2020 |
% Increase |
|
Entire Toronto Board |
$838,248 |
$951,404 |
13.50% |
|
City of Toronto |
$955,273 |
$1,012,506 |
5.99% |
|
Orangeville |
$617,727 |
$649,765 |
5.19% |
Why? We believe there was a lot of pent up desire for people to make a move before Covid as February and beginning of March was quite active. Then we entered into the pandemic where the message was to only move if absolutely necessary. The desire to move was still there, just was put on hold. Then when people were able to successfully work from home, they realized they could move further from work and move to areas that are less congested like Dufferin County. Then of course supply and demand are a major factor. When there are not many home for sales, and buyers are flooding the market, prices go higher as more people are bidding on the same property. Interest rates have remained low and are predicted to stay that way. The banks are competing against each other to get your business, so they need to remain competitive. Lastly, Canada’s GDP relies greatly on real estate, leasing and new construction. It would not make sense to make a significant change to slow this process. It is a good time to make a move. Even for buyers as if you are a seller as well, you most likely will make a good profit on your sale that you can put towards your new down payment.
If you feel like this is the right time for you, please contact us. We are ready, able and would love to help! We have made some changes to our business as well. We have went 95% paperless. Great for the environment and what we have learned about Covid, we are trying to be safer with less handling of paper. We can now offer our presentations, Comparative market analysis, listings and offers through digital means. We still offer our complimentary staging service and professional photography via third party partners that now includes a 3-D walkthrough and pdf feature sheets attached to the MLS listing. Click on the link below to see how we have improved our offerings.
http://tours.viewpointimaging.ca/164170
Click on Interactive
Keep in touch! Tammy Woods & Josh Reso * Sales Representatives * Royal LePage RCR Realty, Brokerage * W: 519-941-5151 * Josh Cell: 519-939-8787 Tammy Cell: 519-939-9095 * info@woodsreso.com * www.woodsreso.com