GTA Real Estate Market Watch - August 2019.
Published September 6th, 2019
Here's what happened in the GTA Real Estate Market last month August 2019
Price comparison to August 2018 (last year)
- Detached properties increased very slightly by 0.3%
- Semi-Detached properties increased by 3.5%
- Townhome properties increased by 2.3%
- Condo Apartments increased by 6.1%
As I had mentioned in the July 2019 Market Watch edition – August would dip further in terms of prices and would begin decent buying opportunities.
In comparison to July 2019, the average price resulted as such:
- Detached properties dropped by 1.2%
- Semi-Detached properties dropped by 2.4%
- Townhome properties dropped by 3.1%
- Condo Apartments dropped by 1.6%
This downtrend in comparison to the previous month (July 2019) indicates that we are still running on the standard annual cyclical trend for the GTA real estate market, where, May & June are the peaks in sales & sale prices, followed by a dip in sales & prices in July and further in August.
It will be interesting to see how the new First Time Home Buyer Incentive by the Government of Canada affects the September market – whether it provides fuel for September sales & prices to start moving higher than usual, or if it’s just business as usual, where we should see an increase from August results as per regular trends - which means one thing: IF YOU WERE THINKING OF SELLING BEFORE THE END OF 2019 – START PREPARING FOR THE SEPTEMBER-OCTOBER MARKET!!
Please note that these are overall GTA stats & trends, which do apply to the regions of York, Durham, Peel & Toronto - however, if you'd like specific information regarding a particular region or city, please let me know and I can provide more precise statistics and information.
September's Market Watch to be released in early October (my favourite – Halloween time!!) - catch you then!
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