September was a slower month this year with less demand and more inventory. I noticed several price reductions for homes that weren’t getting any movement, a ton of new rental listings and limited motivation from buyers. Inflation numbers are back up and could potentially trigger another rate hike. For any buyer who is on the fence and waiting for rates and prices to drop – it won’t happen. There are loads of good deals out there right now and prices are slowly increasing. If... [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]

The last month of summer has arrived! August is typically a slower time of the year for real estate transactions. School is out, folks are away on vacation and buying/selling is put on hold for some. Interest rates remain at around 5.2% on average for a five-year fixed. Both freehold and condo prices have gone up slightly over the previous year. The rental market remains high with prices ranging from $2400-$3000 a month for the majority of townhomes and small singles throughout the city. The... [read more]

Its back-to-school season! The summer is officially winding down, and the real estate market is slowly heading towards a seller’s market. Inflation numbers are still high and may cause another rate hike before the year ends. Get your pre-approvals in before this happens! Contact me today to connect with one of my mortgage brokers to explore your options! What is Gross Debt Service? Gross Debt Service (GDS) is the percentage of your total monthly income that goes toward housing... [read more]

Overall sales activity for the month of November was down 1.6% from the previous year. Interest rates have dropped, and the bank of Canada has left its benchmark interest rate unchanged at 5.0%. It is anticipated that interest rates will begin to drop mid next year. The number of listings in November 2023 has increased by 2.7% over November 2022. If you are considering buying a home in the next few months, it may be a better time to start looking today. With higher inventory and less... [read more]