Three real estate trends to watch this summer 1. Perfect time for the move up buyers: In today's market conditions it remains an opportune time for a potential move up buyers. Selling a condo and moving up to a townhouse or freehold house makes more sense now then it did last year. This is because of the high demand for condos. 2. Downtown Condos remains in high demand: We are...
Three real estate trends to watch this summer
1. Perfect time for the move up buyers: In today's market conditions it remains an opportune time for a potential move up buyers. Selling a condo and moving up to a townhouse or freehold house makes more sense now then it did last year. This is because of the high demand for condos.
2. Downtown Condos remains in high demand: We are sitting in a hot seller's market for downtown Toronto condos. The months of inventory for the downtown core is 1.5 months (anything under 3 months is a seller's market) The July numbers show that there were 817 active listings with 522 sales. This segment of the market will remain in high demand because of location and lifestyle.
3. Prices are on the rise: The last 6 months of 2018 will show increases in both price and number of sales when compared to the last 6 months of 2017. It will still take time to see prices get close to the peak last year (other than for condos) but we are starting to see lots of activity in freehold properties. They are moving fast at great prices!
Tom Storey
www.storeyteam.ca
