Market Update February 2020

While the numbers from the Toronto Real Estate Board have not been released yet in the New Tecumseth area, I can tell you personally what trends I've been seeing for this market update for February 2020.

First off, there has been an increase in new homes on the market in New Tecumseth. I've really begun to notice this over the past two weeks. This is telling me the Spring market is already beginning to ramp up so I feel we can expect a very hot Spring market. Home prices are still on the rise with properties selling very quickly! This may begin to make the market shift into what is called a Seller's Market. A Seller's Market is where there is an increase in demand causing homes to go into multiple offers when seller. This is very good for the seller, and not so favourable for the buyer.

If you are planning on getting into the market, I suggest being ready in all aspects to pounce on what you're after. I would recommend getting those last-minute things completed on your home to get it ready to list and getting some firm numbers on what you can afford.

If you have any further questions for this market update for February 2020, or for everything else real estate, contact me today. Let me help you put down roots in our community.