"Is it a good time to buy or sell my home?"
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I get this question all the time. Right now the real estate market in the GTA presents some interesting differences and opportunities. I have included the chart below to show how different the market has performed within detached and condo sales in the major regions of the GTA. So depending on your objective for asking the question "is it a good time to buy or sell", my answer is absolutely, but let me understand your objective before you jump in.
The condo market has been hot over the past year as affordability of freehold homes has become out of reach for many Buyers. In all regions, except Durham, a detached home on average is going to cost a buyer more than $900,000.
* data compiled from Toronto Real Estate Board market watch reports. does not include semi-detached, freehold town homes, linked homes and co-operative housing
In Durham Region detached home prices haven't changed much in the past year and are selling on average for around $642,000. With the expansion of GO Transit train service in Durham along with highways 407 and 418 wrapping up in 2020, Durham is poised for prices to increase. We saw that with south Keswick and Bradford when train and highway expansion occurred, and now we also see this in Barrie and Innisfil to the north of Toronto. I expect the same in Durham Region.
First time buyers who don't want to live in a 600 square foot condo apartment in Toronto can buy a detached or freehold town house in Durham. Sellers looking to downsize by moving out of other areas of the GTA can benefit by buying in Durham Region. There is a large enough gap in home prices for sellers in York, Peel and Toronto to move to communities in Durham and be mortgage free or cash positive. Move-Up Buyers from around the GTA including those already living in Durham can benefit from prices in the Durham particularly in executive homes ($800,000 and up ) where prices are considerably lower than would be seen elsewhere in the GTA. Durham Region is filled with enclave communities of high end properties on 1-2 acre lots, all with easy access to major highways and transit.
There are always opportunities in the real estate market, it's just knowing where to look.
If you - or a friend, colleague, family member or neighbour - want to learn more about real estate opportunities in the GTA or you just want to talk over some buying or selling plans I am here to help. Allow me to share my expertise and passion for real estate, you won't be disappointed!
I appreciate your support!