By: Paul Gill

Real Estate Market Report September 2017

Tags: GTA real estate, Brampton Real estate Market, Brampton House Price, , selling my house

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Real Estate Market Report  as of Sep, 2017

The market has been decreasing Since April 2017 after the Ontario government introduced several measures to cool the hot real estate market.

As per stats below, we had a robust market up 26% in the first 4 months of this year and in the next 4 months of the year the market has lost all the gains of this year.

The average selling price is essentially  where it was at the end of Dec 2016. 

On a positive note the active listings for sale has decreased over the last few months to less than 16000 active listings in the GTA, which is sign of balanced market.

Most Home Owners have are still setting on average increase of 30% over the last two years even with the recent dip in house prices.

                 

  2017 Average               Monthly Price
Aug 732292
July $746,218
June $793,915
May $863,910
April 920,791
March 916,567
February 875,983
January 770,745
 
2016 Average Monthly Price
December 730,472

    The  Bank of Canada has increased mortgage lending  rates twice with in the last two months and they are anticipated to increase more in 2018. We are recommending for buyers to purchase as they can  take advantage of  savings of  $ 75,000 to $ 150,000 from the previous high prices in Mar & April as well lock in current lower mortgage rates.

For buyers & investors this is the best time to invest in real estate, if you interested in purchasing a property feel free to contact me and we can discuss your requirements.

For Sellers it may beneficial to sell sooner than later as prices could decline further in the short term. 

If you would like to chat about the real estate market or are thinking of buying, selling or investing, give me a call.  

 by Paul Gill, CFP

416 300 7285

 

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