REAL ESTATE MARKET Attn: Sophia Song 15004 Yonge Street | Aurora, ON L4G 1M6 CA
REPORT
AUGUST 2020
SOPHIA SONG
Sales Representative CLHMS Million Dollar Guild, ABR
416.356.9215
Sophia@SongTeam.ca
NICK XU
Broker, P Eng. LUXE Luxury Listing Specialist
647.502.9215
Nick@SongTeam.ca
THE SUMMER RECOVERY MARKET IS HERE! The spring market that materialized in June is expected to remain robust throughout the summer months as pent-up demand, low interest rates, and limited inventory headline market drivers. PRESTIGIOUS HOMES OF
“Virtually every housing category in the Greater Toronto area, from starter homes to the luxury market, will be impacted by pent-up demand in the months ahead,” explains Christopher Alexander, Executive Vice President and Regional Director, RE/MAX of Ontario-Atlantic Canada. “Historically low interest rates – with five-year closed rates as low as two per cent – will also provide impetus for the foreseeable future.”
AURORA N O RT H E A S T
W E C E L E B R AT E A N D S E RV E A L L O F AU R O R A’ S D I V E R S I T Y W E S P E A K E N G L I S H A N D M A N DA R I N
HOUSING DEMAND remained visibly above recovery. Homebuyer interest recovered quickly and remains high as low mortgage rates, virtual tools, and lockdown lifts have enabled buyers to continue the search.
HOME PRICE moved further past the recovery threshold. Prices have regained momentum as the mix of inventory shifts back toward higher priced homes and demand for entry-level properties surges.
PREPARED ESPECIALLY FOR
Jonathan and Angela-Marie Williams
www.AuroraNorthEast.com HOUSING SUPPLY continues to follow a path to recovery. While lockdown measures subside and foot traffic resumes, we have yet to see normal levels of listings enter the market. Inventory is critically low!
PACE OF SALES has started to stabilize. As more buyers and sellers reunite, days on market may decrease. Buyers eager to capitalize on historically low interest rates are looking to take advantage of unique market conditions.
JONATHAN AND ANGELA-MARIE, Selling your property during the upcoming months could realize a great return on your investment. Contact us today for a no-obligation market analysis of your home. SOPHIA: 416.356.9215 | NICK: 647.502.9215
PRESENTED BY
SOPHIA SONG
AND
NICK XU