Hello March! As we start heading into the spring market, inventory will likely increase and hopefully provide more opportunities to buyers – especially for those in the market for a condo under 500k. Prices will continue to remain high and interest rates will remain the same for the foreseeable future. The only area where prices are not as competitive seem to be high rise condos in the downtown area. It could be because many have high condo fees that cost well into the 600’s/month... [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]

  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]

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]