October was a slower than usual month for real estate transactions. Most buyers have put their home search on hold and are hoping to see the market crash or low rates to return. In my opinion, the market will not crash, and rates will likely remain high for at least the next 6 months or longer. The advantage of buying in this market is the abundance of inventory to choose from, negotiating power, conditional offers and far less competition from other buyers. Sure, the rates are high today,... [read more]

  The average house prices continue to remain strong and overall, we are still in a seller’s market. Its not a crazy as it was in the earlier part of the year however, most homes are still getting 100k-200k or more over list price. I have noticed more sales of high-rise condos in Centertown and Westboro, many of which are getting over asking price. Days on market have also gone down to a few days or a week in many cases. New home construction continues to be challenging with... [read more]

  The month of May has brought more inventory throughout and what appears to be a cool down in the market. I’m noticing a lot more pre-emptive offer options and less offer hold outs than ever before. Prices remain strong with townhouses selling in the 700’s and detached homes well into the Millions. Interest rates have increased significantly, which may have played a role in the market cooling down. Current mortgage fixed rates are around 3.5-3.6% while a variable will... [read more]

  We are officially in the spring market! As I predicted in the past, the downtown condo market has started to pick up. I have noticed more high-rise condos selling over list price in the past few weeks. I’m expecting that this trend will continue into the summer. Single homes in the 800k and higher price point seem to have slowed down in sales, many not receiving any offers on presentation day and remaining on the market for a few weeks. The townhouse market remains strong, and... [read more]

  Happy New Year to All! 2023 is off to a slow start as total sales and sold prices continue to drop. Mortgage rates will remain high for the foreseeable future. There is an abundance of inventory for sale and for rent. The median sold price vs original list price for December was approximately 90%. January so far has an 88% sold to list price ratio. My thoughts? I think the next 2-3 months will be slow moving until we get to the spring market. In the meantime, if you are looking to... [read more]