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It’s been a few months since the Coronavirus flipped our lives upside down. As we enter another month of physically distancing ourselves to help stop the spread of COVID-19, a lot of us have adapted to the new way of life.
Social distancing has frozen Canada’s housing market. Sales and new listings in Toronto were down 73% and 71% in April, respectively, from the year before.
Anyone selling right now probably has to, so any data economists can glean will be misleading.
The good news is the housing market started in this crisis on a solid footing. There were signs the market was improving after adjusting to the stress test.
National average home prices were seeing double digit increases, and sales were climbing. The not so good news is what happens to the economy once it does start to reopen.
With low mortgage rates it’s still a decent time for first time home buyers to explore the market.
𝐂𝐮𝐫𝐫𝐞𝐧𝐭 𝐎𝐟𝐟𝐞𝐫 𝐟𝐨𝐫 𝐁𝐮𝐲𝐞𝐫𝐬 𝐕𝐚𝐥𝐢𝐝 𝐌𝐚𝐲 𝟏𝐬𝐭 – 𝐉𝐮𝐥𝐲 𝟑𝟏𝐬𝐭: 𝐀 𝐌𝐢𝐧𝐢𝐦𝐮𝐦 𝐨𝐟 $𝟓,𝟎𝟎𝟎 𝐂𝐚𝐬𝐡𝐛𝐚𝐜𝐤 𝐈𝐧𝐜𝐞𝐧𝐭𝐢𝐯𝐞 𝐨𝐧 𝐚𝐥𝐥 𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞𝐬.
𝐃𝐄𝐓𝐀𝐂𝐇𝐄𝐃 𝐇𝐎𝐌𝐄 𝐒𝐀𝐋𝐄𝐒 𝐈𝐍 𝐂𝐎𝐌𝐏𝐀𝐑𝐈𝐒𝐎𝐍 𝐓𝐎 𝐀𝐏𝐑𝐈𝐋 𝐎𝐅 𝟐𝟎𝟏𝟗 (as reported through TREB)
Vaughan: Sales -82% | New Listings -75% | Avg. Sale Price +4.9 % | DOM +40% or 28 Days
Patterson: Sales -82% | New Listings -81% | Avg. Sale Price +1.8 % | DOM -20% or 16 Days
Richmond Hill: Sales -74% | New Listings -76% | Avg. Sale Price +4.7 % | DOM +4% or 29 Days
Toronto: Sales -73% | New Listings -71% | Avg. Sale Price -7.9 % | DOM -6% or 16 Days
Mississauga: Sales -73% | New Listings -71% | Avg. Sale Price +9.1% | DOM +16% or 22 Days
Newmarket: Sales -70% | New Listings -72% | Avg. Sale Price +12.3% | DOM -14% or 18 Days
King: Sales -79% | New Listings -69% | Avg. Sale Price -21% | DOM -47% or 27 Days
Markham: Sales -71% | New Listings -77% | Avg. Sale Price -2.5% | DOM -25% or 18 Days
Aurora: Sales -66% | New Listings -65% | Avg. Sale Price -1.9 % | DOM -26% or 17 Days
Milton: Sales -73% | New Listings -64% | Avg. Sale Price +2.3% | DOM -10% or 17 Days
Whitchurch-Stoufville: Sales -67.5% | New Listings -70% | Avg. Sale Price +33.5% | DOM +109% or 48 Days
Willowdale West: Sales -92% | New Listings -81% | Avg. Sale Price +74% | DOM -17.2% or 24 Days
𝐋𝐀𝐓𝐄𝐒𝐓 𝐒𝐀𝐋𝐄𝐒 𝐑𝐄𝐏𝐎𝐑𝐓𝐒: https://bit.ly/2Sqb7Va
Previous months Sales Reports: https://www.fuadhomes.com/market-analysis
𝑪𝒖𝒓𝒊𝒐𝒖𝒔 𝒂𝒃𝒐𝒖𝒕 𝒔𝒂𝒍𝒆𝒔 𝒊𝒏 𝒚𝒐𝒖𝒓 𝑪𝒊𝒕𝒚, 𝒏𝒆𝒊𝒈𝒉𝒃𝒐𝒓𝒉𝒐𝒐𝒅 𝒐𝒓 𝒐𝒏 𝒚𝒐𝒖𝒓 𝒔𝒕𝒓𝒆𝒆𝒕? 𝑺𝒆𝒏𝒅 𝒎𝒆 𝒂𝒏 𝒆𝒎𝒂𝒊𝒍 𝒕𝒐 𝑰𝒏𝒇𝒐@𝑭𝒖𝒂𝒅𝑯𝒐𝒎𝒆𝒔.𝒄𝒐𝒎 𝒂𝒏𝒅 𝑰 𝒘𝒊𝒍𝒍 𝒑𝒓𝒆𝒑𝒂𝒓𝒆 𝒊𝒕 𝒇𝒐𝒓 𝒚𝒐𝒖 𝒊𝒏 𝒏𝒐 𝒕𝒊𝒎𝒆.
As a real estate professional, I have access to the latest data and information, and can give you a clear picture of what’s going on in the local real estate scene.
I can offer you some clarity, which is so important in a time of so much uncertainty.
My Current Services for Buyers & Sellers:
- Meetings are being held online via Zoom and Skype.
- Virtual Tours, 3D Tours where possible.
- Virtual Staging
- Online Technology to complete all transactions, including electronic signings.
- Daily keeping up to date with the market so I can advise as we go along.
So, please, don’t hesitate to reach out to me. I’m here to help.
Stay healthy, happy and well,
𝑭𝒖𝒂𝒅 𝑨𝒃𝒂𝒔𝒐𝒗
#realestate #fuadhomes #sellwithfuad #buywithfuad #fuadabasov #realtor #sellers #buyers #thornhill #maple #thornhillwoods #vaughan #toronto #newmarket #kingcity #richmondhill #willowdale #forresthill #dufferinhill #torontorealestate #luxuryrealestate #luxury #luxurybrand #homes #houses #newhomes #staging #construction #investment #development
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