February 2021
The year is flying by, it is already the beginning of March and I am here to give you a brief update on what is happening in the world of residential real estate in the GTA .
The market is very busy at the moment where demand is outpacing the supply.
Inventory of homes available for sale is now less than a month for all home types across the GTA.
While market conditions were tight throughout the GTA region in February, the detached, semi-detached and townhouse market segments in suburban areas were the drivers of average price growth, with annual rates of increase above 20% in all three cases.
If we continue to see growth in condo sales outstrip growth in new condo listings in Toronto, renewed price growth in this market segment is a distinct.
The condominium resale market has also rebounded with the overall volume of trades up almost 65% compared to February last year.
New home developments across the GTA have been selling well, we saw condominium and freehold developments released and then shortly sold out. With limited availability in the resale market many buyers are considering something new.
There have been some great investment opportunities when it comes to real estate, I would be happy to discuss these with you, please contact me at your convenience.
if you ever need or want a more specific, up to date, market analysis on your home please contact me, I am always happy to help.
I look forward to catching up soon....