The five- and 10-year averages for price growth in newer downtown Toronto condos is 15% and 8%, respectively. GTA-wide, the 10-year average is also 8%.
Winnipeg’s housing market has yet to exhibit noticeable corrections due to the coronavirus pandemic, with March sales posting 8% annual growth.
Data from WinnipegREALTORS showed that 1,089 home sales transpired last month. This pushed the Q1 total to a level 12% higher compared to the same period in 2019.
“Our first quarter has been consistently solid every month,” according to Catherine Schellenberg, president of WinnipegREALTORS. “Buyers have been taking advantage of affordable prices with a wide choice and healthy supply of listings to choose from. This first quarter is one of the best starts on record for WinnipegREALTORS, but we know unprecedented times are upon us, with public health being the highest priority now for Manitobans and Canadians.”
The volume of new listings has declined by 2%, however. As of the end of March, active listings numbered at 4,723 properties, which was 12% higher annually.
“Going into the spring market which is normally the busiest time of our annual market cycles will be different in 2020,” Schellenberg said. “We have already noticed a slow-down in listing and sales activity the last week of March and this is totally understandable given everyone’s desire and the critical need to flatten the curve on COVID-19.”
News of a fixed rate increase might inspire consumers driven by fear of being priced out of the market in Canada.
Even before COVID-19 moved us all to work from home, reevaluations of office space were already underway, but not nearly to the extent they are now.
This consultant and real estate investor said that a third of new construction properties built every year in Ontario have legitimate claims for reimbursement, but they aren't taken advantage of.
New condos going up on King St. E. and Berkeley St. by Lamb Development Corp will be 32-storeys and the new Ontario Line subway route station.
Condominium sales in the City of Toronto surged by 63.2% year-over-year in February to 2,167, according to the latest data from the Toronto Regional Real Estate Board.
According to GTA-based Seth Ferguson, CEO of Multifamily Real Estate Investments Inc., Texas has arguably the most propitious horizon in the Sun Belt.
In 2020 alone, this commercial real estate team did over $60 million in commercial sales in Toronto.
Craig Proctor, top Canadian real estate agent and coach, offers advice on how to dominate during these crazy real estate times. Join his Millionaire Agent-Maker SuperConference March 19-21.
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