From the Mak Family…
Last weekend, I had to wake-up at “Stupid O’Clock.”
That’s the fun name we give to the early morning games we have for his Clarkson Soccer Rep team. It’s still “stupid” because it’s still dark out and everyone is dead tired!
Sure, it’s a lot of work to drive him to practice or games, but you know what? In a few years, we’ll probably miss these memories.
As the saying goes:
“The days are long, but the years are short!”
Enjoy them while you can!
PS: NTM scored a goal in this game!
The Toronto Real Estate Market
In February 2023, the average home sold for $1,095,617.
This is up +5.5% from last month and down -17.9% from last year.
There were 4,783 sales in February which is -47% lower than in 2022.
Is the Sky Falling?
The media will be reporting that it’s a crazy drop of -47%, but if you look closer at the stats, February 2022 was a record month so of course the drop is going to look bad!
The more interesting trend is the month-to-month increase happening.
With a LOT of multiple offers going on everywhere, it looks like this year’s Spring Market will be significantly busier than last year’s.
If the rate hikes start to slow down, I think you’ll see a lot more activity from Buyers and Sellers.
So what does this mean for you?
If you’re buying…
Double-check your finances and take a look what’s out there.
In the short-term, I don’t expect prices to be dropping much more.
If you’re selling…
It’s still not the best time to sell unless you’re able to upgrade at the same time.
Still, with a 90-day hold on some mortgage pre-approvals, many buyers will need to secure something before their rate goes up again!
Questions about your real estate situation?
Call me at (416) 276-4895.
JUST LISTED
This spacious, 3 Bedroom townhouse has 4 parking spaces!
This home is conveniently located In the Erindale Community next to the Mall and close to public transportation.
This is an end-unit with a lot of natural light and a semi-private backyard!
For a private showing, please call (416) 276-4895.
