I hope you and your family are doing well and keeping safe. Along with the pandemic, the residential real estate market continues to make headlines. April 2021’s numbers demonstrated a strong rebound over April of last year when we were navigating the initial stages of the outbreak. The Greater Toronto Area saw the volume of sales grow by 358% compared to last year with prices up 32% for all home types.

It is interesting to look back a little farther, when comparing April 2021 to April 2019, a year prior to the pandemic, 2021’s sales volume is up 50%. A reason behind such a dramatic up-tick is with the roll-out of vaccines injecting confidence into the market and low borrowing costs, sellers are taking advantage of the demand for real estate and buyers are taking advantage of the low borrowing costs.

With the onset of the pandemic condominiums around the GTA saw the greatest effect where a great number of investors and landlords tried to exit the market putting a large supply of inventory up for sale. With fewer buyers, values naturally started to fall. Confidence is entering back into the condo market, prices are now up almost 20% over last April and up 17% over April 2019.

The new construction market has also been extremely busy where developers are seeing multiple offers on many of their projects. Popular developments are seeing over 1000 applicants for less than 350 available units. With this level of demand it is so important to have someone with the right experience to assist you in navigating this marketplace. Should you have any interest in investing in real estate I am always available to help.

Thank-you for your time and please never hesitate to reach out should you have any questions.

Jennifer