GTA Real Estate Market Watch - July 2019.
- Published on August 8, 2019
Here's what happened in the GTA Real Estate Market last month July 2019
Price comparison to July 2018 (last year)
- Detached properties dipped by 0.9%
- Semi-Detached properties increased by 5.3%
- Townhome properties increased by 4.3%
- Condo Apartments increased by 6.7%
- Ease of getting qualified for a mortgage under the $1M price point
- Overall affordability & comfortable LTV (loan to value) ratio for buyers
- More comfortable closing costs such as LTT (land transfer tax), title insurance, etc.
This downtrend in comparison to the previous month (June 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.
If everything remains the same, we should see a further dip in August for sales & prices as per regular trends - which means one thing: BUYING OPPORTUNITIES!
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.
Please note that economic impacts of trade negotiations/conflict, political conflict & changes in key interest rates can have an impact on the housing market which cannot be predicted, and can cause the annual cyclical trends to be thrown off. If there are any known variables that I become aware of that will cause some sort of impact - I will definitely make you aware of them.
August's Market Watch to be released in early September - catch you then!
If you're not satisfied with your home purchase in 180 days, I'LL SELL IT COMMISSION-FREE, GUARANTEED!*
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