Dear Friend,
Despite the harsh January weather, Toronto Realtors sold 4009 homes through the
Toronto Real Estate Board MLS system, slightly more than the same period last year.
This bodes well for a very active market in 2019.
While the average selling price was up by 1.7 % on a year-over-year basis, it really
does not represent what is happening in the marketplace, as not all housing sectors are
experiencing the same effects. Condominium apartments continue to lead the way in
terms of price growth and demand, while luxury homes in some areas are experiencing
a downward trend due to the number of homes available for sale.
Without a doubt, the changes in mortgage qualifications have created tighter market
conditions in homes and communities under a million dollars as well as condominium
apartments. Sales in other sectors have become sluggish but represent an excellent
opportunity for those buyers who are looking to upgrade. Overall I expect prices to
increase moderately 3% to 5% in 2019 but primarily in the sectors mentioned above.
Today’s market has some great opportunities for investment and upgrade potential but
with so many different market sectors and conditions, it’s essential to have a full
full-time real estate agent like myself consulting to you so you can make the best
decision for your family and your future.
If you have any questions about the market, please give me a call, no obligation. I will
be happy to help and give you the benefit of my expertise.
Have a great month,
Dear Friend,
Despite the harsh January weather, Toronto Realtors sold 4009 homes through the
Toronto Real Estate Board MLS system, slightly more than the same period last year.
This bodes well for a very active market in 2019.
While the average selling price was up by 1.7 % on a year-over-year basis, it really
does not represent what is happening in the marketplace, as not all housing sectors are
experiencing the same effects. Condominium apartments continue to lead the way in
terms of price growth and demand, while luxury homes in some areas are experiencing
a downward trend due to the number of homes available for sale.
Without a doubt the changes in mortgage qualifications have created tighter market
conditions in homes and communities under a million dollars as well as condominium
apartments. Sales in other sectors have become sluggish but really represent a good
opportunity for those buyers who are looking to upgrade. Overall I expect prices to
increase moderately 3% to 5% in 2019 but primarily in the above-mentioned sectors.
Today’s market has some great opportunities for investment and upgrade potential but
with so many different market sectors and conditions, it’s really important to have a full
full-time real estate agent like myself consulting to you so you can make the best
possible decision your family and your future.
If you have any questions about the market, please give me a call, no obligation. I will
be happy to help and give you the benefit of my expertise.
Have a great month,
Your Friend in Real Estate.
Steven
Your Friend in Real Estate.