Despite Covid, Prices Up?

Friday May 29th, 2020

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In this video, you’ll be updated on the price changes that have happened throughout the GTA. We will break down the price changes for different home styles, and different areas. Stay tuned to the end of the video where I will share my real estate market predictions.

According to a Global News article, published on the 26th of May, the prices of Real Estate in the Greater Toronto have slightly increased in both 905 and the 416. Condo prices were up by 1.8% in the first two weeks of May, compared to the same period in 2019 and detached homes were up by 2.6%. Across all home styles, the number of transactions has dropped by 55 to 65%.

How are homes being sold right now? Agents are requesting buyers to sign consent forms confirming they have not recently travelled, or been in contact with anyone who has any signs of sickness. Over the past few weeks, I’ve noticed prices rise slightly, as people are less worried as they were in April. Overall, sellers are now more comfortable showing their homes, and buyers are happy they have more homes to choose from, as new listings are trending upwards.

 

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