By: Jay Rana

GTA Real Estate Market Watch - January 2020

Tags: 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, Halloween, Vegan Realtor, jayguaranteedsold, VIP Home Buyer Protection Plan, February, Valentine, Family Day, January, 2020, Happy New Year, New Year, Christmas, november, december, holidays,

GTA Real Estate Market Watch – January 2020.
Published February 6th, 2020

 Here's what happened in the GTA Real Estate Market last month January 2020

Price comparison to January 2020 (last year)

Condos absolutely DOMINATED in January with 15.1% appreciation vs January 2019!! Detached properties remained mostly steady with 10.5% increase, & Semis & Towns continued their steady rate of appreciation of 6.5% and almost 8% respectively.
January had some decent buying opportunities as I had predicted previously (slight dip):

Detached & Semi’s dropped slightly from December, likely due to entry price points while Townhomes & Condos jumping by almost 3%! The increase in Towns & Condos was likely towards the end of Jan, as buyers were looking to get a head-start on a market that’s predicted to appreciate between 6-10% in 2020 (based on recent financial reporting in the media), coupled with the fact that the average prices are at least 100K less than Semis & 400k less than Detached.
February is already seeing multiple offers on properties. With the banks easing up on posted rates & in March, the easing of stress test – we are poised to have an INSANE Spring Market. If you were planning to BUY without having your finances sorted (pre-approvals) – be prepared to lose out.

Sellers, if you were thinking of selling: START PREPPING YOUR HOME NOW!!
Beat the competition and get a firm deal within the next month or two – especially if you were also planning on buying (move-up or downsizing)

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.

Have a great ??Valentine’s??& Family Day, see you in March!

For past issues, visit: http://www.getrana.com/blog/jay-ranas-monthly-gta-real-estate-market-watch/

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Jay Rana
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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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