TRREB’s July GTA Data.

Toronto real estate has been making the news and it’s hardly a surprise to anyone at this point that the market is scolding hot again.

While many countries are experiencing 2nd and 3rd waves of Covid-19, and our closest neighbors in the south are unable to overcome the pandemic, Canada has handled it very well and the province is opening up. Along with that, the interest rates have dropped to their historic lows to below 2%. Cheapest money ever! No wonder the buyers are on a mission to take their own piece of our beautiful city.

July has seen 17% increase in prices year over year and 29% increase in sales activity. But if you are looking to sell a home and are wondering whether it is a good time, you must consider many different factors that are at play. Scolding hot market is not enough to get the property sold. There are many listings that are sitting on the market for weeks collecting dust.

I find it my obligation to make sure that people get are well informed before deciding to sell their homes. If you want it to sell quickly and for the highest possible price, let’s chat about how we can get this done.

Here are a couple of infographics to showcase how the market behaved in July 2020: