Fall Market Commentary

Hope you are enjoying the beautiful fall season.

September stats are in and low inventory and interest rates continue to drive prices up as we see gains from last year in GTA and across the Golden Horseshoe. Read full reports on TREB  and RAHB.

Also, find out how the top tier housing markets are doing across Canada in Sotheby’s fall report posted below. 

Curious about sale prices in your area? Get in touch with me and receive a nonobligatory report.

Have a wonderful weekend!

2019 Top-Tier Fall Market Forecast

A new report released by Sotheby’s International Realty CanadaEmboldened consumer confidence and solid economic fundamentals in Canada’s largest housingmarket position the Greater Toronto Area (GTA) to lead Canadian top-tier real estate performance this fall.

In a forecast released today, Sotheby’s International Realty Canada revealed that GTA residential real estate sales over $1 million saw bold gains over the summer months, increasing 29% year-over-year in July and August.

Vancouver’s top-tier real estate market is poised for gradual renewal this fall, as built-up consumer demand releases into new activity, and as housing prices continue to adjust downward to match current conditions.

Montreal’s $1 million-plus sales remained largely on par with 2018’s record highs; however, a 38% year-over-year surge in sales volume in the first fifteen days of September suggests healthy demand in the months ahead.

While Calgary real estate sales over $1 million fell 18% from 2018 levels in July and August, initial activity in the first two weeks of September reveals the potential for continued rebalancing in the city’s buyers’ market as $1 million-sales experienced a mild 10% uptick.