September 2020 Market Intelligence

Prices are way up in Oakville on huge volume. A 23% price increase from last year at this time and a 64% increase in the number of sales. Burlington was up 11% in price and 41% in the number of houses sold from last year. Milton was up 16% in price and 35% in the number of properties sold from last year. I know there are lots of buyers out there who are hoping for some kind of let up, correction, or crash, and if someone were to give me some real reasons as to why it might happen, I would be happy to agree. Here are a few reasons why I think the prices and the sales volume will continue to climb; 1) Interest rates are incredibly low and not likely to rise. 2) The increase in unemployment is not made up of high paying jobs that make up the bulk of people who are in a position to buy a property. 3) Equity positions among Canadian home owners are actually quite strong and improving on a monthly and yearly basis, over 88% of Canadian home owners have at least 25% equity in their homes right now. 4) Taxes are unlikely to rise in an economic recovery period. 5) The drop in immigration caused by Covid-19 is temporary and because most immigrants lease for the first year or 2 the effect won’t be felt much.

As I always say to anyone who will listen: Moving is no small thing, you need to have a good enough reason to spend so much of your time looking for properties, buying a property, selling your property, moving and all the co-ordinating that goes along with it. So if you feel that your reason is compelling enough for you, my team and I are so excited to help make it as easy and pleasurable as possible. Call us anytime at 905-399-4269.