RECORD SHOWINGS

AVERAGE INCOME AND MORTGAGE DETERMINED PRICING 
This is what we know: week over week the average price in the GTA has plateaued with small fluctuations between 1 million and 1.1 million. It has sat in this pocket since July 2021 with an aberration of $1.217,454 in January 2023, and then slid below $1M for the rest of the month until climbing to $1,031,412 on April 3rd. See the chart.

INTEREST RATES
Inflation has decreased to 5.1%, and it is still a pressing concern. Mortgage rates are not expected to reduce quickly. The Bank is continuing to create a financial tension in order to keep inflation at bay. This will hold the average house price inside a modest bracket of increase.

DEMAND AND SUPPLY 
Supply is still far too low to satisfy demand and the charts below illustrate how many showings happened in TREB properties as well as the number of offers resulted from these showings. Looks at those peaks. No, the market is not dead as has been widely reported.  It’s intense. There are now multiple offers on good properties.

SUPPLY SOLUTION? 
Pre-construction condos can be a good solution, if you have time to wait for your new home, and if you are buying from an expert and reputable builder.  With a powerful track record Camrost Felcorp has an offering with a new build they’ve named,  Raglan House at Bathurst and St. Clair.

The intersection of Bathurst and St Clair is on the verge of a $4 Billion awakening which will bring approximately 8 new towers creating a new neighbourhood – a town within the city.  With the new population will come the vibrancy of new retail, TTC access pathways, green space and community identity.

It’s a solid choice for long-term thinkers – downsizers, investors, parents anticipating future family needs and first-time buyers.  Downsizers looking for a home with space like the home they have, but on one level, can combine suites to achieve the condo square footage they seek but can’t find elsewhere.

The incentives associated with the first 100 sales, and the payment schedules ease the buyer’s financial burden and the acquisition process. If tentative occupancy in 2027 suits your needs, this is an exciting solution.

Please call me if you have real estate questions or would like to talk about this build at Bathurst and St. Clair known as Raglan House .

NEWS ON OTHER BUILDS, TO COME.

IF YOU WANT INFO SOONER. CONTACT ME HERE… OR AT 416-925-9191  – janedepencier@chestnutpark.com