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Patrick Chung

December Market Update -- Last month of 2020!

Friday Dec 11th, 2020

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December 2020, Dear Friend, Another record month of real estate sales for the GTA and Covid 19 had nothing to do with it! There are 5 major factors that are keeping the real estate market at record levels: Ridiculously low interest rates (1.5%) attracting new buyers into the market who can now qualify to buy. A strong economic recovery for many business sectors. Many Canadians ”cash” rich from not spending on trips etc. as well as getting government... [read more]

The GTA market update!

Tuesday Mar 17th, 2020

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March 2020 Dear Friend, A huge month of sales for the GTA area as realtors reported the sale of 7,256 homes, up 45.6% over the 4,982 homes sold in February 2019, with the average price increasing 16.7% to $910,290. While this seems to be good news for homeowners, the reality is its not, unless one has no intentions of purchasing another property, but simply cashing out. For those first time who purchased in the last little while, congratulations! You are in the market, and will keep... [read more]

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