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In today's video🎥, let's spend five minutes to look at the Real Estate Market Data📊 for June.
I also included a detailed analysis, by different Property Types and different Areas🔥.
Make sure you stay until the end of the video for a really important forecast by Toronto Real Estate Boards' Chief Market Analyst.
If you want to keep updated of the Toronto Real Estate Market in your area and your property type,
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Make sure you subscribe to my channel, hit the bell notification. So you can keep updated with the latest real estate market data and news.
Feel free to reach me at : 416-823-1207 if you need help buying/selling, or have any questions regarding real estate :)
👉 • June 2023 Toronto Real Estate Market Data ...
The Toronto Regional Real Estate Board just released the Market Watch Data for June. There’s some good news and some bad news.
The good news is, home sales and average selling price remained above last year’s levels.
And both seasonally adjusted average selling price, and the MLS® Home Price Index (HPI) were also up compared to the previous month of May
The demand for home ownership is stronger than last year, despite much higher borrowing costs.
With this said, home sales were hampered last month by uncertainty surrounding the Bank of Canada’s outlook on inflation and interest rates.
Furthermore, a persistent lack of inventory likely sidelined some willing buyers because they couldn't find a home meeting their needs.
Market Data in Different Areas and different Property Types
For condos in the downtown C01 area, Average Price increased pretty stable since the beginning of 2023 up until June.
However, the second and last chart might tell a different story in the coming months, we can see Days on Market and Months of Inventory increased significantly in June, meaning a downtown condo now takes longer to sell, and we have more supply than demand right now.
This might indicate that we are heading towards a more buyer’s market.
Next, For detached homes in Markham and Newmarket in York Region, we see the average prices adjusted downwards comparing to last month.
We also see similar patterns of Months of Inventory going up, indicating we are heading away from a strong seller’s market.
As a professional real estate agent, I study market data every single day. What I’ve seen is more listings coming up due to the hot market in the beginning of the year. However, buyers have become more hesitant, and this could potentially change the market conditions for the next couple of months. According to Toronto Real Estate Board’s Chief Market Analyst Jason Mercer, “A resilient economy, tighter labour market condition, and population growth kept home sales well above last year’s lows. Looking forward, Bank of Canada’s interest rate decision in July and its guidance on inflation and borrowing costs for the remainder of 2023 will help us understand how much sales and price will recover beyond current levels.
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【YouTube视频🎥】六月份最新🔥 Market Update📊 出炉啦~
很多客户和朋友都问我，现在的地产市场怎么样啦？利率又会是怎样的走向？对买家、卖家有怎样的影响？ 📊
今天视频带您一起来看看六月份的整体，以及不同地区、房型，细分的地产数据。
视频结尾还有多伦多地产局对未来几个月地产市场的预测。
🎥视频链接👉：
• June 2023 Toronto Real Estate Market Data ...
一起来看看吧
创作不易，如果喜欢的话，一定要一键三连啊~!😃
Have a great day!~
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Hi there, I'm Vanessa, a real estate agent serving the Greater Toronto Area. I’m expert and certified in buying, selling, and negotiation(ABR, SRS and MCNE®). Throughout my REALTOR® career, I’ve helped many buyers/sellers achieve their real estate goals with 100% satisfactory rate.
My YouTube channel is all about helping you through your real estate journey.
I also made these FREE Complete Step-by-step PDF Guides for buyers/sellers/landlords. They are packed with industry experts’ advice, and will guide you through the entire process. Trust me, after reading these, you are going to be a lot more confident about the whole process, and much more likely to get the result you want.
Buyer Guide:
https://vanessahomes.ca/buyer-guide
Seller Guide:
https://vanessahomes.ca/seller-guide
Landlord Guide:
https://vanessahomes.ca/landlord-guide
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