By: Marius Mitrofan

Market Update JULY 2016

Tags: Market Update JULY 2016

July 2016

Dear Friend,

As of the end of June, Toronto Real Estate Board members sold 60,293 listings, another record month. On average 54% of all the sales in a given year are done in the first 6 months, and that means that another 51,000 homes will be sold by December 31st. 

Historically May is the busiest month of the year (10.77% of the annual sales) and it’s true again this year  with 12,870 homes sold with June a close second (12,794). 

As we enter the summer months, fewer people might be looking at homes, but sales, demand, and prices will remain strong. I have already seen a slight change in the market, where properties not marketed and priced strategically are not selling the way they 
were a month ago.

Though 2016 is a record year for price increases and the amount of homes sold, it is still a great time to buy real estate either as a homeowner or an investor. The summer, with less competition, is an ideal time to start. However, I must stress, you need a knowledgeable, experienced guide to help you through this process. Luckily, I am such a person! 

If you have any questions or know of someone who could use my expertise, please give me a call, I would love to help.

Have a great August,

Your Friend in Real Estate.