The Motria Group's Market Blog: Happy New Year! Nobody knows what to think about the real estate market in Toronto.
Monday Jan 21st, 2019Share
Happy New Year! Nobody knows what to think about the real estate market in Toronto. Inventory is still low in central parts of the city and demand is high. (We listed a house in Etobicoke and in 5 days we had 70 parties through). We are in tougher financial times and uncertainty but we don’t appear to be in a recession. Mortgage laws are also definitely affecting the market. It’s just tougher to get a mortgage these days so buying power has decreased. Some houses are selling in multiple offers, others are sitting on the market. Market has shifted so sellers may not get exactly what they want. If the offers are reasonable maybe sellers should consider something a bit lower. There may be some opportunities for buyers this year. It’s still early to tell how the year will go.