By: The Goldfellas

July Market Update

Tags: REMAX Goldfellas, July 2020, REMAX, Real Estate

 

Here we are, back in a Seller’s Market. Low inventory met with low interest rates driving interested potential buyers towards competitive offers and higher home value. Let’s take a look at what happened in July: 
 

“Sales activity was extremely strong for the first full month of summer. Normally we would see sales dip in July relative to June as more households take vacation, especially with children out of school. This year, however, was different with pent-up demand from the COVID-19-related lull in April and May being satisfied in the summer, as economic recovery takes firmer hold, including the Stage 3 re-opening. In addition, fewer people are travelling, which has likely translated into more transactions and listings,” said Lisa Patel, TREBB Board President. 
Both year-over-year comparisons for sales and average resale home price show a clear picture of the TRREB market patterns before, during and after the spring slump caused by COVID-19 restrictions and financial insecurity.

Competitive offers will continue to increase in many GTA segments as the market catches up from slower spring/early summer months.


What should you do if you’re thinking about buying or selling? Consider the above information and give Zubin, Mansoor or Karl a call.  Market conditions are still changing and buyer interest is increasing daily. Let us make a plan that works for you based on price, location and timelines. We know our market and we’re here to help.
 
Read the full report at http://trreb.ca/files/news_releases/news2020/nr_market_watch_0720.pdf
 

If you're looking to buy, sell, or invest, then our expertise and commitment to excellent service are what you need.
We have you covered.


Email us at remaxgoldfellas@gmail.com
Zubin Abuwalla | Direct: 416-389-8019 
Mansoor Ahmed | Direct: 647-297-1721 
Karl Abuwalla | Direct: 647-883-0874 

 

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