Published August 26, 2021
What’s Happening in the GTA Market?
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Here are some of the latest numbers for the GTA real estate market.
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We are in a hot seller’s market, and many homeowners have been reaching out wanting to know what the values of their properties are today. When they receive the values from my team, they often remark that the prices are too low based on what they’ve seen online. However, if you’re looking at the value on a site like Zillow or Redfin, you need to pump the breaks just a bit. Those sites will give you a range of values, but they can’t value your home accurately because they simply don’t know what’s in it.
The only way to get a true, accurate valuation of your home is by having a trusted real estate advisor come through and observe its features and benefits. The buyer dictates the true value of your home, and in this market, there could be multiple buyers.
Now let’s move on to a quick recap of the GTA stats for June 2021 versus June 2020:
Active listings are down by 52%
The average sale price is up by 53%
The average market inventory dropped 16%
To say that now is a great time to invest in real estate would be a massive understatement. If you’ve been waiting to buy, think of the adage: "Don’t wait to buy real estate. Buy real estate and wait." We’re seeing home values continue to appreciate this year and expect that to continue for the next few years unless inflation goes through the roof.
With the fall election coming up, all eyes are on real estate. A lot of politicians are talking about affordable housing right now, but we’ll see how it all plays out; things are always changing.
If you have any questions about your home’s value, the market, or real estate in general, don't hesitate to reach out via phone or email. I look forward to hearing from you soon.
