April Real Estate Market Report
Thursday May 06th, 2021
Another crazy month for April 2021 real estate market. It is very crazy, but I seen the market is starting to cool down a bit and here is the update.
1. The there is a lot of new listing compare to 2020 which is 237% increase. This means that we may transition into a buyer market since more inventory on the market. There is also the mortgage stress test that will be in effect around June 1, but detail is still finalizing for the time being.
2. The number of home got sold for April 2021 vs 2020 April is 362.1% increase. This is very crazy! There are still bidding wars that is going on for the real estate housing market, so bidding war can be effective, but not as well compare to February or March.
3. The average price for April 2021 is close to 1.1 million dollar in the whole GTA area. The real estate market is still booming and still going very well!
4. The day on the market for the property went down almost 42%! This means that there are a lot of property that are sold in a very timely manner due to few factors, location, the right pricing and the staging.
5. For the rental market, pricing is started to get heated, but even though it drop a lot throughout the pandemic, the summer rental market will be a great one for the month of July
Contact me today to get started on the real estate journey for a free market evaluation or looking for your next dream home.
Vinson Li - Real Estate Agent/Mortgage Agent
Real Estate firstname.lastname@example.org
Real Estate website: www.vinsonlihomes.com