From the Mak Family…
This Summer, we decided to mix things up with a few new camps.
NTM went to a ping pong camp in Mississauga and liked it so much, he asked to go for a second week!
Since then, he’s been very excited to play with me at night-time. He’s getting quite good.
I haven’t seen him this interested in a sport since soccer, so maybe this will be a new sport that he will work on.
How does the Fall market look?
In July 2023, the average home sold for $1,118,374.
This is down -5.39% from last month and up +4.06% from last year.
There were 5,250 sales in July which is +7.8% higher than in 2022.
Overall, it’s been a quiet Summer. Everyone is away and wondering what will happen with the interest rate announcement on September 6h.
If you are buying or selling…
There should be a lot more activity in September in terms of listings.
Even if there’s a +0.25% interest rate hike (currently estimated at around 30%), many Sellers are ready to hit the market after Labour Day.
The average price may be muted, but there’s still a lot of demand out there.
As for renting…
If you read my last newsletter, this is the WORST time for renters and the BEST time for landlords.
Everyone is scrambling to secure a place before September 1st and things should slow down by the end of next month.
My main focus is to help investors lease out their properties for the most money to problem-free tenants.
But since there’s so much demand, I have assembled a rental team across the GTA to help with the renter-side of things:
As for the Fall, I’m really hoping that the Bank of Canada takes a pause in September and waits to see how the inflation numbers look before doing anything drastic.
Long-term, the interest rates will eventually fall, but in the meantime, there will be a lot of short-term pain for many home-owners and potential first-time buyers.
Curious about the market?
Call me at (416) 276-4895.
JUST SOLD
Congrats to our Sellers D & P who sold their home with multiple offers.
This property was a particular treat because we originally sold it to D & P in 2020.
When they were ready to move their family across the country, we were pleasantly surprised that they called us to stage and market their home.
So off they went on their new adventure while we repaired, painted, designed and staged their condo.
With the sale of their home finalized, we are so happy to see them move on to the next stage of their lives.
Looking to sell?
Call me at (416) 276-4895
