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April 2023 Market Insights
March numbers are in and as outlined in this month's infographics below, subtle average price increases in Oakville (+0.4%), Mississauga (+2.6%) and Milton with a whopping +7.4%. Pricing is everything when approaching the busiest time of year and this spring is set to be an interesting one.
While some properties' days-on-market counter go up, multiple offers on unique and renovated properties (including building lots), have left buyers asking why? As buyers rapidly adjust to the unchanged BoC interest rate (4.5%) and considering that prices have come down in the GTA by -15% to -20% since last year, leaves for a "SWEET SPOT" in the market. With signs of prices leveling, buyers are taking advantage of the lower prices and jumping in, banking on the interest rates lowering in the future, which could contribute to long-term gains. Timing will play a big part moving forward.
Is now a good time to buy or sell? Reach out today and I'm happy to guide you. I'm focused on your future success. 416-948-2883 cell direct