Hi everyone! Danielle Demerino here, your favourite Toronto realtor! I don’t know about you but I am not a big fan of rollercoasters. I love to go fast but the ‘ups and downs’ makes me quite queasy. Currently, the GTA real estate market and the state of the stock market are just like that of a monster coaster and I’d prefer we were all taking a water cruise on the ‘swan ride’ right now. These markets are NOT for the faint of heart and should be guided by seasoned professionals. Timing the market can pay off well but its risks outweigh the possible rewards.
In January 2021, we saw a 52% increase in sales compared to last year and a 15% increase in prices in the GTA! We are still seeing a lack of inventory when it comes to homes (detached, semi-detached and townhomes) and it appears the demand for condos has begun to rebound from it’s softening in the later half of 2020. The volume of condo sales were up 85% over last January with prices down 4%. We are already seeing an increase in February 2020 in condominium prices and it is expected prices and demand will continue to rise (as it becomes harder to purchase a home).
Due to the lack of inventory, we are seeing buyers and investors turn to purchasing new construction. This year, we have already seen some new condominium sites released with great success. If you have any questions regarding investing, please give me a call at 416-728-5401.
It is always a pleasure to keep you up to date on GTA’s real estate market, for an update more specific to your neighbourhood please never hesitate to reach out.
