Happy New Year! We hope it has been good for you so far.
We’ve been in touch with many of our buyers and sellers this month who are in a positive place and ready to make a move in 2023.
We still face a lack of inventory, higher carrying costs, new tax levies and inflation but on both sides of the Canada / United States border stabilizing factors such as low unemployment, low mortgage defaults and high immigration point to a soft landing and a more balanced market. NAR Chief Economist Jonathan Run gives 5 Reasons why today's market differs from 2008.
Condos along the Yonge subway line in prime neighbourhoods are great investments and we have two to offer. Whether looking for a first-time buyer, a 'right-sizer', or seeking a Toronto pied-a-terre, our current listings are both great investments.
The Toronto Real Estate Board market chart gives a pretty clear picture of the last three-year sales cycle with sales volumes remaining half of pandemic highs but stabilizing since July. Price adjustment percentages need to be considered individually. Please let us know if we can give you precise information about your home's current market value.
Don't miss the February 2nd Vacant Home Tax declaration deadline. We've included the link for you!
Our warmest wishes for a great New Year,
Linda, Lisa Marie, Lori and Cherry