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    North Group

    70 Jutland Road, Unit 16, Toronto, ON M8Z 2G6

    • (647) 559-5880
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    There is opportunity in every market. What’s yours?  : February 2022 Market Update

    💡Fact-based knowledge and experience = results-based buying and selling 🏠💰 👀 There is opportunity in every market....

    • Amy Youngren
    • March 4th, 2022
    • 2 min read
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    💡Fact-based knowledge and experience = results-based buying and selling 🏠💰

     

     

     

    👀There is opportunity in every market. What’s yours? We just had the 2nd best February in all of the Toronto Real Estate history🏆. Read that again.  

    ➡️Is a balanced market on the horizon? Not in the near future, but recent stats give us a hint at a very small dip in the 💪 of this Seller’s market: 1️⃣ While sales are the 2nd best on record, they are actually ⬇️ 16.8% from last year,  2️⃣New listings were down, but only by 6.6% (the 🔑 here is that they weren’t down as much as sales)

     

     

    Despite the above factors, 1 thing remains unchanged: competition. Listings are now selling in 9 days on average, which is substantially less time than 2021 (37.5% less in fact). This, as a result, drives prices which has now put the average sale price at $1,334,544 across the GTA.📈 While the detached market still continues to be the focus, representing 43% of all Feb sales, all home types are thriving. 

     

     

    👀A hint of change = opportunity! But we caution you to take it with a grain of salt. [Read: we predict accelerated price growth continuing]. If you want to buy, we will work with you to do this effectively in this window of opportunity.Less sales can be attributed to a # of factors, & one is that a lot of the population bought in 2021 already (hence the record-breaking stats)🏡. Adding to this, the GTA still faces a very serious supply problem that almost all experts state won’t be resolved quickly or easily. Therefore, Sellers, it's still your market & you can expect competition for your property.📅For the rest of 2022, Sellers, we can’t predict the future, but there are 2 factors that will cause change: The cost of borrowing & Immigration. Both are opposing forces when it comes to balancing the market. With the cost of borrowing expected to increase, as indicated by the Bank of 🇨🇦'a rate change, we could see less buyers. However, immigration numbers will be substantial in 2022 compared to last year, adding to the buyer pool.  ➡️ Let's discuss!

     

     

     

     

     

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    About the author

    Amy Youngren

    416-624-8854
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    Amy Youngren is an avid real estate investor, sought-after speaker and founder of one of Canada’s fastest growing, award-winning real estate teams: North Group (est. 2017). As a business leader with 20 years of both corporate and sales experience within the real estate industry, Amy is guided by a vision to empower real estate entrepreneurs through a platform of superior systems, services and marketing that create real estate experiences worth talking about for 300+ clients annually. Named one of the “100 Most Influential in Real Estate” by Inman, she has steered North Group to numerous accolades, including “Most Innovative Real Estate Team” and ranked in the Top .01% in Canada, by the Toronto Regional Real Estate Board. Amy is a results-driven leader with an extensive network of industry connections, partners and investors, who is a regular commentator on industry trends and has been featured in the Canadian Press, Toronto Star, CTV andYahoo! Finance, among others.

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    Real Broker Ontario Ltd., Brokerage

    70 Jutland Road, Unit 16, Toronto, ON M8Z 2G6

    Real Broker Ontario Ltd., Brokerage

    70 Jutland Road, Unit 16, Toronto, ON M8Z 2G6

    (647) 559-5880
    [email protected]

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