The Blog
COVID-19 & Toronto Real Estate Market
Keep in mind the situation regarding COVID-19 is changing on a day-to-day basis. This article is a breakdown of the current COVID-19 situation (as of March 25th, 2020) and how it relates to the Toronto real estate market from the perspective of a local Toronto Realtor.
We're entering the ordinarily busy spring market for Toronto real estate, but as it stands now, everything is at a standstill. Sellers are reluctant to let any potential buyers into their homes and buyers are self-isolating, not leaving the house. Across the GTA, the number of listings is down, and the amount of demand is down - way down. I have personally experienced plenty of listings in Toronto cancelled due to the COVID-19 pandemic.
Toronto Real Estate 2020 Price Growth
Now we’re into the new year it seems a good time to reflect on where house prices are likely to end up in 2020. Over the course of 2019 Toronto house prices increased by 4% (Toronto Real Estate Board), but I would expect an increase in the region of 6-7% and even 8% this year.
Why? Well if the start of the year is anything to go by, there’s a lack of properties being listed and significant demand for the ones that are available.
I’m hearing tales of properties with 30-40 offers and as much as 77 offers! – and that kind of competition is going to push prices up. Sometimes sellers price properties on the cheap to attract multiple offers, but it’s now happening on properties that seem fairly priced too.
Hidden Costs to Prepare for When Selling Your Home
4 Budget-Friendly Ways You Can Increase Your Home’s Value
3 Things That All Homeowners Should Look For When Selling Their Homes
The Pros and Cons of a Pre-List Inspection
Real Estate Sales to Now Indicate School Catchment Area
Real Estate Sold Prices Made Public
3 Tips to Boost your Curb Appeal
When it comes to selling your house in North York, there is nothing that gets you more interest than having it look immaculate and pristine from the outside. First impressions count when you have your home on the market, and it is important to make sure whoever sees your house wants to buy it! The best way to do this is to boost your curb appeal. Use these tips to help you out: