The kids are back to school and the leaves are beginning to fall. After the reopening this summer, this fall is full of optimism.
Despite the traditional summer lull in real estate, TREB reported the third-best sales results on record for August. The demand for housing continues to be high resulting in competition between buyers. Regardless of the low inventory, the average selling price for all property types was up 12.6% year-over-year.
TRREB President Kevin Crigger echoed that sentiment by stating, “It is clear that the supply of homes is not keeping pace with demand… Working with provincial and municipal levels of government on solving supply-related issues is much more important to affordability than interfering with consumer choice during the home buying and selling offer process or revisiting demand-side policies that will at best have a short-term impact on market conditions.”
With the double-digit annual increases in selling prices, the market is very appealing to sellers across the GTA. Homeowners are either capitalizing on the continuance of the seller’s market or awaiting new government policies.
As we transition to spending more time indoors and celebrate Thanksgiving, you may realize you have either outgrown your space or want to downsize. Whatever you are looking for, the team at the Dan Cooper Group is here to help. Contact us today to discuss your housing needs and dreams!