As we start to prepare ourselves to work in the fall market, new information about what is to come this year has been shared. The fall market is expecting a steady spike as our real estate market continues on its feverous ride.
Toronto is about to see yet another spike of $50K per home sale, and it is only the beginning. This spike is not at all surprising, though it can be disheartening for most who want to make a living in our beautiful city of Toronto.
We have seen the spike in home sales since COVID-19 and this continuous trend is yet another example that people are continuously seeking new surroundings and now with new working conditions, selling and re-buying seems to be quite the trend.
Evidence shows that the price of the typical GTA home will increase to reach $1,114,387. And if it continues, we will see a spike up to $61,800 and that will increase home prices over $1,115,00. This summer’s steady rate of movement prepared torontonians, and future home buyers for the spike of the fall market. This fall, bidding wars, and multiple offers are coming with a vengeance.