The Motria Group's Market Blog: Real estate market continues to forge ahead for houses
Monday Nov 09th, 2020Share
Real estate market continues to forge ahead for houses. We are experiencing quite a buying frenzy and prices for homes are increasing. We have a very low supply and very high demand situation. This includes out of city properties and cottages which have had a large surge in demand and price.
Condos on the other hand are the opposite. For the most part condos are selling much slower. Except for special premium offerings, inventory continues to increase as sales decrease. Rental market is tough now and some jittery investors may need/want to sell. Investors are thinking twice about buying. International buyers aren’t coming in, the city core is empty.
The landscape in Toronto has changed dramatically due to Covid. It will be interesting to see how many of these changes remain post pandemic.