July Real Estate Market Report

Thursday Aug 05th, 2021


It is this time of the month! The Real Estate Market Report is out for the month of July!
As the restrictions are easing as we are in the step 3 of the reopening plans and people are getting vaccinated, the real estate market is cooling down a bit, but the price is still increasing slightly.
The number of new listings on the market right now is 12,551 compare to last year to 18,119 as this has drop very drastically like 20%. This means the seller is holding back whether to sell the home right now or just wait to see how the market react. The number of home sold got sold is 9390 compare to last year of 11,033. This means there isn't much home being sold so it can gives signal may leaning toward a buyer market as there is still inventory on the market. The average price is still booming, close to 1.07 million dollar, so the market is doing very well. The property on the market is 20 days which means it is getting sold in a timely manner. The rental market for the past 4 weeks the prices for 2 bedroom, 2 plus den or 3 bedroom has went up drastically compare to last year and seen the lease price over asking between $25/month to $1400/month in the downtown core near the U of T St George Campus.
If you are still wondering whether to sell your home or purchase your next dream home right now, now it is a good time to do it. Call me today to get started. I am more than happy to provide you my overview of the real estate market.
Vinson Li - Real Estate Agent/Mortgage Agent
Real Estate 📧 vinsonlirealty@gmail.com
Mortgage 📧 vinsonli@mmfgp.com
Real Estate website: www.vinsonlihomes.com

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