YOUR MONTHLY GTA MARKET UPDATE:
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DECEMBER 2020 MARKET UPDATE
In the month of December, the housing market continues to be in a high demand as the transaction activity was up by 32.1% year-over year.
The demand is high right now as there are fewer newly listed properties (1.6%) compared to previous months.
For first-time buyers, the condo market is absolutely great as many owners are looking to upsize their home, thus leaving a wide variety to choose from.
The Canadian housing is overall strengthened despite COVID-19 and people continue to move out of the city.
Mortgage rates are also at an all time low right now, providing an opportunity for people to buy.