We are seeing patterns such as:.
Nevertheless, if you dive a little deeper into the numbers, you can see some special trends that can particularly be related to the pandemic/covid.
Buyers willing to acquire houses outside the city as proximity to their office is no longer a significant consider family decision making.
Buyers seeking homes with personal outdoor space/land.
Purchasers seeking more “home” to produce house offices and accommodate more relative investing more time together in the family.
Buyers and Sellers are making major ” lifestyle” changes.
Less desire to be in an apartment, specifically if it has no outside area.
More apartment listings as investors get out of the market.
Downward cost pressure on rental condominiums.
The post TORONTO REGIONAL REAL ESTATE BOARD AUGUST 2020 REPORT appeared initially on Silver Burtnick & & Associates.
* we are now called the “Toronto Regional Real Estate Board” to show the truth that our MLS( R) system servers many of the surrounding neighborhoods to Toronto).
Back to Normal?
In the beginning glance, one could be forgiven for looking at the TRREB * sales and listing stats from August and believing that everything has gone back to the same-old, same-old; Sales Prices Up Year-over-Year Again, Demand is Outsriping Supply, It is a Sellers Market,……
Indeed the momentum in sales, rates, listings and activity has actually continued to construct on the monthly data since the low-water mark of April 2020. The pent-up demand created throughout the spring lockdown shifted by a number of months and individuals in the domestic market have actually been offseting wasted time in a BIG way.
Although the headings look like things returning to the very same old, there are numerous undercurrents impacted the domestic genuine estate market due to the pandemic. The key is remaining on top of (and “in front of”) these trends, if possible