We’re in March and it looks like the groundhog could be right. We’re in for an early spring and the home buyers are getting restless! We’ve already seen some GTA properties sell for more than 30% over list price! Buyers are looking for any opportunity to enter the market, even if it means paying unprecedented prices. Unfortunately this doesn’t bode well for other interested parties, as these prices will set the benchmark for future sales.
January’s market summary:
- • On a year-over-year basis, sales were up, while the number of new listings was down
- • The volume of active listings on MLS was essentially 50% less than January 2016
As we expected, the lack of inventory is proving to be problem for buyers. Recent changes to municipal land transfer tax structure were implemented and could effect you as well.
Interested in reading more? Click here for my February newsletter.
