GTA Real Estate Market Watch - August 2019

By: Jay Rana

GTA Real Estate Market Watch - August 2019

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toronto real estate, markham real estate, york region real estate, stouffville real estate, home buyer, home seller, first time home buyer, starter home, TREB, century 21, re/max, keller williams, royal lepage, purple bricks, redfin, ibuyer, market watch, realtor, homes4less, sellhomes4less, search realty, jay rana, GetRANA, re4l

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)

Prices rose overall from August 2018 for all property types, however Condo Apartments were the only type that continued their strong momentum of 6%+ appreciation, while Townhomes & Semis pulled back by about half of their appreciation rates from July 2018 to July 2019.

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:

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!
Jay


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Jay Rana
Sales Representative, CENTURY 21 Titans Realty Inc. Brokerage
Real Estate Negotiation Expert, Real Estate Business Institute
www.getrana.com | jay@getrana.com | 647-930-1394 (direct) | 416-820-4504 (secondary)

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