Although the spring equinox covered optimistic blooms with a blanket of snow, the promise of warmer days, levelling inflation and pending lower interest rates helped boost February sales by 17.9% compared 2023.
Listings were up 33.5 % however many were relisted from previous months and when compared to record low inventory in 2023 this significant boost does not accurately depict the the tight market we are experiencing. Offer dates have returned and are here to stay for what we expect to be a strong Spring market.
“As we move through 2024, an increasing number of buyers will re-enter the market with adjusted housing preferences to account for higher borrowing costs. In the second half of the year, lower interest rates will further boost demand for ownership housing. First-time buying activity will also be a contributing factor, as many renters look to trade high monthly rents for a long-term investment in which they can live and build equity,” said TRREB Chief Market Analyst Jason Mercer.
Doorey Chu Team specializes in professionally preparing homes to assure they show their best and achieve top value. Leveraging the power of our Sotheby's brand and its unparalleled real estate marketing will put your home in the most favorable light, regardless of its price point. We've included some packing tips that you'll find helpful.
Cottagers know the joy of hearing 'The ice is out!' knowing it won't be long before boats are in the water. A special thank you to our cottage country associate Shawn Woof for supplying tickets to the Cottage Show. Whether you're dreaming of your own dock or contemplating the sale of your cottage, we know how to navigate.
As always, our team is here to assist you with any of your real estate needs, from finding your dream home to enhancing the value of your property. Design team Griffin Houghton worked with clients who decided staying put was best for them. We've included their Beaches bedroom makeover.
Here's to a spring of new beginnings and exciting opportunities.
March's Real Estate Review includes:
-
TRREB Toronto Stats and Market Watch Summaries
-
Fabulous New Listings
-
Power of Working with Sothebys Realty
-
Rightsizing Packing Tips
-
Designer Bedroom Before and After Reno
-
Real Escapism - Lake Joseph Cottage with Boat House
-
DCT Cottage Connection - Shawn Woof
-
Neighbourhood Movie Ticket Draw!
Wishing you a peaceful Easter weekend,
Lisa Marie, Linda, Lori and Cherry
