We are in the throws of Summer and it goes fast. Enjoy some time off and quality family and friends time.
Despite the psychological impact of higher borrowing costs and the whispered fear of the “R” word, real estate continued to be a desired commodity with 6,474 homes sold throughout the GTA. While this number was down from last year’s record-breaking stats, it shows the strength of the market and the continued desire for real estate. With the YTD average price ($1,257,257) being up 15% from December, real estate continues to be a great investment and to be in great demand.
Here are the statistics that I believe are important. There were 6,474 homes sold last month. That means many people were not afraid to buy. There are only 16,095 homes available for sale so the listing inventory is approximately 2.5 houses for every buyer, which means we’re in amore balanced market. Last month, throughout the GTA homes sold between 97% and 104%of the asking price, meaning that if you were priced right, within 5% of market value, your home sold in 20 days!
Taking advantage of the current market:
1. Take advantage of the “fear” created by the media.There will be many good opportunities.
2. Get a mortgage commitment. I can help you lock in a 4-month rate guarantee to protect against rate increases.
3. Unemployment is low. Immigration continues.Good factors for the Market.
4. “You have nothing to fear but fear itself” Franklin D Roosevelt
5. Contact me! Full time, committed, knowledgeable and experienced.
Have a great July, and remember, I’m never too busy for your referrals!
If you would like to help and support my charity ride,we will be riding to Collingwood on Friday July 22 to raise funds for disabled kids.Its a great cause and every little bit helps.