Market Watch - August 2020
As the summer slowly fizzles away, a strong rebound of sales in the GTA resulted in a record for August - up by a whopping 40.3% compared to August 2019. Sales were up year-over-year for all housing types, but particularly focused on low-rise market segments, including detached, semi-detached and townhomes.
As economic conditions improve and the exceptionally low cost of borrowing continues, we are seeing an increased demand for home ownership in the thick of the COVID-19 pandemic. This is helping to satisfy the pent-up demand from the typical spring market we see yearly.
TRREB MLS Sales & Average Price by Major Home Type (August 1 – 31, 2020)
Working with a real estate agent enables you to get a sense of the market in your neighbourhood, price your home accurately and to effectively advertise and market your listing. We are here to help provide advice and guidance. Please feel free to reach out to us at any time. We are more than happy to help or answer any questions you may have.
It’s our family helping yours!
-Kristina & Rey