GTA Stakeholders' Report - May 2023

A Message From Our Founders

Dear Stakeholders,

As the founders of Kirby Chan and Co., we are truly grateful for your ongoing support of our 8th annual community yard sale. Your participation has made it a neighbourhood tradition we all look forward to!

Our commitment to uniting our community drives us to host this event year after year, and seeing neighbours connect and contribute to a good cause brings us joy.

We’re excited to invite you to this year’s yard sale on June 10th and 11th. Whether decluttering or seeking bargains, there’s something for everyone.

Thank you for embracing our values and being part of our community. We can’t wait to see you at the yard sale and make more memories together!

Warmly,

Kirby and Carrie

Greater Toronto Area Real Estate Market

Quarter 1 - 2022 vs 2023

The Community Update shows a decrease in average price from $1.27mil in 2022 to $1.12mil in 2023. Sales dropped by 42.2% (12,530 to 7,239), while average days on market increased from 11.7 to 22.7.

Statistics Provided by Toronto Real Estate Board: Jan/Feb/Mar 2022 vs 2023. Numbers rounded to closest 10k

Statistics Provided by Toronto Real Estate Board: Jan/Feb/Mar 2022 vs 2023. Numbers rounded to closest 10k

Text your address to 416-305-8008 for an instant home evaluation | www.KirbyChanAndCo.com

Opportunities and Challenges for GTA Move-Up Buyers

The ever-evolving property market in the Greater Toronto Area presents both exciting opportunities and unique challenges for moveup buyers, particularly for growing families. With the latest data from the Toronto Region Real Estate Board in mind, let’s explore how families can take advantage of the current market trends and find their perfect home.

One significant opportunity lies in the recent decrease in average property prices across the region. This trend creates a valuable chance for families to find more spacious homes at relatively affordable prices. Additionally, with properties spending more time on the market, sellers have the opportunity to attract serious, motivated buyers, which is advantageous when looking to sell your current home.

However, the market also poses some challenges for move-up buyers. With fewer listings available, competition for the ideal family home can be fierce. This situation demands a proactive approach to house hunting and a keen eye for emerging opportunities. Securing the right mortgage for a moveup purchase also requires careful research and planning to ensure the best financing solution is found.

To successfully navigate these challenges, partnering with an experienced real estate team is essential. Kirby Chan & Co. Real Estate Team specializes in catering to the needs of growing families and can provide invaluable insights into market trends, helping clients make informed decisions at every stage of the process.

Staying updated on neighbourhood amenities, school districts, and other factors crucial to your family’s lifestyle is vital. By being wellinformed and maintaining a positive outlook, families can make the most of the opportunities presented in the current market and overcome any hurdles that may arise.

In today’s market, the key to success lies in embracing opportunities and finding creative solutions to challenges. With the expert guidance of the Kirby Chan & Co. Real Estate Team, move-up buyers can confidently navigate the Greater Toronto Area’s real estate market and find the perfect home to build a bright future for their loved ones. Contact Kirby Chan & Co. today to take the first step toward your dream home.