Market Update June 2020

Welcome to June! The real estate market has been going through some major changes over the past few months. Of course, the underlying reason has been due to COVID-19 and our province-wide lockdown.

In April we saw new listings in the GTA drop by about 70% compared to the same time last year. Despite this drop in listings, the average listing price only dropped slightly by about 2%. In May we saw listing activity pick up slightly, still being down by about 60% on average in the GTA. Again, despite this drop in listings, prices were almost the same as they were this time last year. For June we are expecting new listings to be on the rise! We have already begun seeing this over the past few weeks. The market has also been heating up in terms of multiple offers! Now I don't just mean 2 or 3 multiple offers, but some being 14 or 15 multiple offers! So if you have been thinking about listing, now is the time. It has been deemed a seller's market.

I am offering modern elite online marketing which is more important more than ever right now, and other safety procedures to ensure you and your family remain safe. Let me showcase your home to get it sold quicker and for more capital!

Contact me today and we can discuss your individual needs and I can give you a complimentary no-obligation home evaluation. Living in New Tecumseth for over 22 years now, let me help you put down roots in our beautiful community!