Posted 4.24.14 @ 9:11
Imagine the worst winter we’ve had in decades, the best prices we’ve seen for real estate in the same amount of time, and a booming market of Baby Boomers and family-minded Millennials trying to escape the city for cute little communities like Oakville…
Well you get the idea. It’s going to be one heck of a summer, are you prepared?
Home Buyers Coming Out of Hibernation
If you listed your home last fall or winter, you may not have had much luck. No one wanted to brave the snow pack, the fallen trees, the muck to buy a home - and who could blame them?
But home buyers are awakening from their winter slumber, and they’re coming back with a vengeance. The current listings can’t keep up with demand, meaning the homes that are available (especially in Toronto proper) are going for much more than they would have a year ago.
Which is why so many are turning their eyes outward to communities around the GTA like Oakville for privacy, amenities and to avoid the hordes fighting over a $1 million teardown.
Prices Expected to Jump as Much as 10% by Year’s End
By the end of the year prices are expected to jump anywhere from 8% to 10% across the GTA, beating the national expected average of 4.5%. That’s a pretty big jump - which means the longer you wait to start looking for a home, the more you’ll end up paying by the end of the year.
This is mostly because of the anemic amount of homes listed in many areas across the GTA. With a bad winter, many sellers are waiting until later in May or even June to begin listing their homes. Others are holding onto their homes in hope of massive appreciation over the next decade as Canadian real estate becomes one of our most valuable commodities.
Did You Know: Homes near public transit are some of the highest across the GTA - some going for an average of $150,000 to $200,000 over asking. That’s a lot!
Toronto and Vancouver Booming
Of the 11 major markets across Canada, the GTA and Vancouver are expected to keep booming through the end of the year.
A booming market is great if you’re a seller… but what if you’re a buyer?
How do you know you’re really getting a great deal? You could try and do it on your own - but when it comes to your financial health… do you really want to trust things to chance?
If you don’t want to just buy a house, but a home that’s right for you in every conceivable way, it’s time to get the right team on your side. The Goodale Miller Team!
For a great selection of luxury homes for sale in Oakville, visit: http://www.goodalemillerteam.com/Homes.aspx