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John's Market News Letter (July, 2021)

By: John Carser

John's Market News Letter (July, 2021)

Tags: JOHN'S MARKET NEWS LETTER, REAL ESTATE MARKET STATISTICS, HOUSE PRICES

July 2021
 
 Dear Friend,
 
Another great month of sales as Toronto realtors sold 11,106 homes at an average price of $1,089 536. While a lot of statistics are being bandied about such as,” Average price is up 28% over the same time as last year”, these numbers are really not relevant due to the impact of COVID-19 in 2020.
 
The numbers that are important are the following:
 

 
From the above information we can draw the following conclusions:
 

 
Buyer exhaustion has certainly impacted the real estate market. Buyers got tired of the home buying process, getting frustrated and disappointed after being unable to purchase a home due to the bidding wars. Adding to that is the summer weather and relaxation of Covid restrictions. This has all led buyers to take a rest from the real estate market.
 
HOWEVER….. none of the major factors that created a frenetic market in the Spring and the consequent rise in real estate values have changed. Immigration, ultra-low mortgage rates, limited availability of homes for sale and a strong demand for home ownership, continue.
 
There is no doubt in my mind that by August/ September the market will continue the strong pace we had in the Spring. I believe the next two months will represent the best opportunity to upgrade your home or to purchase an investment property.
 
If you’re thinking of buying or selling give me a call, let me help you secure the best future for you and your family.
 
Have a great July
 
,Your Friend in Real Estate

 

John Carser, Sales Representative

RE/MAX Realtron Realty Inc., Brokerage

Cell#: 416-823-8980 or 705-618-8980
john@calljohnnow.com
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ant to know what Homes and Cottages are Listing and Selling For In Your Neighbourhood?
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Oh, By The Way, I Am NEVER TOO BUSY For Your Referrals Anywhere In The World! 


 

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