TRREB’s June GTA Data.
Toronto, July 15 , 2020
By Ivan Kalinin
The numbers are in and what a stark contrast to the previous month it is! I mean, with the Toronto’s red-hot market in the Q1 of this year it was not difficult to deduce that the lockdown may serve as a means of increasing the demand for housing in this city. But personally, I was calling for the market to come back to its normal (insane) self in fall. Little did we know that one month can result in 89% increase in sales, 2% on average increase in prices from February and 12% year-over-year.
I still think that unless there is a second wave of the pandemic, the market is still picking up and activity will only increase towards Fall. The kids should be in school then which will make listing a home a lot easier, and hopefully we will assume some semblance of normalcy with the province opening up. More homes will be put on sale in Fall, which will quench the thirst of the hungry buyers, if only a little.
That said, if you are thinking when is the best time to list your house – it is right now. The inventory is still low, but the buyers are back in the market, you can take advantage of the increased buyer activity and the lack of choice in the market currently. If you are thinking of putting your house on the market – let’s chat about what you can do to get the most money for your house.
Here are a couple of infographics to showcase how the market behaved in June 2020:
If you like talking real estate half as much as I do and are going to participate in the market in 2020, come chat and have a coffee. And if you are looking for a property as an investment, remember our super-popular private investment tours now booking in early 2020. Click here to book.
Ivan Kalinin is a sales agent at Key Toronto Real Estate Group. Zoocasa Realty Inc. – Brokerage independently owned and operated, He can be reached at 416 858 8085. Not intended to solicit clients already under contract.