The GTA, Oakville, and Burlington continue to see prices on the rise and are trending toward a busy Spring market for both Buyers and Sellers on top of the normal Spring market.
Fewer listings, low inventory and increased Buyer demand supported an increase in prices. There was more competition between Buyers due to the lack of inventory available for sale resulting in multiple offers within the last month. Houses are now selling at 100% of the list price, and more, which shows an active market ahead.
“Lower inflation has resulted in medium-term bond yields to trend lower. This has and will continue to result in lowered fixed fate borrowing costs this year. Lower borrowing costs will help from an affordability perspective, especially with tighter market conditions exert upward pressure on Selling Prices in the second half of 2023” Said TRREB Chief Market Analyst Jason Mercer
As a SELLER- if you are considering listing your home this Spring, NOW is the time to start the process, there is great Buyer demand along with a lack of listing on the market which will result in a top dollar price for your home.
As a BUYER, now is the time to search for a home as prices are on the rise. Please reach out and we will provide you with up-to-date listings. Having all the proper tools in place will assist greatly in your home search. We also have access to exclusive listings that are not on the MLS system to assist you.
As always we are here to help you navigate the market and achieve your buying and selling goals.