April Market Update
Thursday Apr 15th, 2021
We certainly live in strange times! Despite the third wave of the pandemic, the demand for homes has never been greater! March saw 15,652 homes sold in the GTA at an average price of $1097,565. The market was active in all sectors with 45.5% of the homes being detached, 28% being condominium apartments and 18% semi-detached or townhomes. As the competition for homes increased due to limited supply, sales were spread out across the GTA as buyers had to choose price over ideal location to get into the market.
What we learned from the previous lockdowns, is despite them, life has to continue. There are new immigrants coming to the GTA, both international and from different parts of Canada. They need rentals as well as homes to buy. Sellers who sold their homes earlier, now have to buy. New construction homes are being completed and the purchasers who bought several years ago now have to move in.
That’s why real estate has been deemed an essential business. My company has invested heavily in technology to enable me to continue helping you, my clients, while at the same time following the provincial guidelines and keeping all of us, including our support staff safe. Many of our staff work from home, answering telephones, booking appointments and even closing transactions. I can do Virtual Open Houses, show buyers the homes I have for sale without their physical presence, and you can meet, sign offers and close transactions all virtually and safely!
Business for us in real estate continues as normal, but just a different normal!
If you are considering buying or selling, please call me. Real estate may seem like a simple business, but really its not. I do not consider what I do as selling homes. I provide professional guidance and protect the interests of my clients in one of the largest complex financial transactions they will make in their lifetime.
Let me put my knowledge and experience to work for you, and I assure you we will do it safely, protecting your financial future as well as your health.
Patrick Chung, Broker
Your Friend in Real Estate.