Team Cheema
154 Bathurst Street M5V 2 R3 Toronto, ON, Canada

November Market Stats Hello Friends, Winter is upon us and I hope you and your families are staying safe and healthy as we enter into this second round of COVID-19 lockdowns across the GTA. I am reaching out to give you a brief but informative update on the Residential Real Estate Market.... The month of November saw a busy real estate market with sales up over 24% compared to November 2019 and prices up 13% respectively. Inventory levels also rose slightly over last year, up 15% to 13,798 homes available for sale, putting the months of inventory number at only 1.57 months. This figure represents a strong seller's market as the Toronto Real Estate Board would be sold out of listings in just over a month and a half if another listing was not taken. We have seen some softening in the resale condominium market in the major city centres like Toronto and Mississauga as investors have begun to exit the market as they have found it more and more difficult to find tenants. The 905 resale condo market has remained consistent with prices appreciating and the volume of sales up. This is due to affordability and the cost of borrowing. It is much easier for first time home buyers to enter the market their and many renters are now finding it affordable to own with interest rates at all time lows. On the investment side developers who launched projects throughout the year and are sitting on some remaining inventory are starting to announce attractive promotions in an attempt to sell a few more units before the end of 2020. If you were considering making an investment now is a great time, please do not hesitate to contact me with any equiries I wish you, your family and friends a fabulous holiday season. Stay healthy and safe and know that I am always here to assist you with any of your real estate questions. Kind Regards

October TRREB Stats I hope you are enjoying the fall season and staying healthy as we all navigate through the pandemic. I wanted to reach out to give you a br...ief update on the residential real estate market. Home prices for the month of October are up over 13%, with the volume of sales also jumping up 25% across the Greater Toronto Area. In smaller submarkets almost 20% in both communities. The demand for real estate in these areas has drastically increased due to the affordability of the real estate, approximately $865,000 in Brampton and $740,000 in Durham Region and with interest rates being at all-time lows it is drawing more buyers into the market that may have not had the ability to afford a home before. In major city centres like Toronto and Mississauga, we have seen the demand and prices of resale condominiums begin to flatten out. In Toronto, prices were only up slightly for the month, just under 1% with the volume of trades down almost 9%. Mississauga saw prices go up slightly for condominiums by just over 2% with demand sliding down almost 5% compared to the same period last year. Condominiums have been appreciating at an average of 6% a year for a long time and many sellers are looking to cash out as the demand for rental units declines. Where we are seeing gains in the condo market are in the outlying communities that surround the larger city centres. Toronto and Mississauga have seen the inventory of condos for sale rise with demand unable to keep up. The outlying communities have seen strong demand due to affordability and for the simple idea that people are looking for locations that offer something a little different than downtown living. The demand for new condominiums has remained steady as more and more developers have launched their projects before the end of the year. The purchase of a new condo enables the buyer to greatly spread out the deposits required to buy, not requiring the 20% down you would need to purchase a resale condo investment. If you have any investing questions please never hesitate to contact me. Stay well and stay safe. Know that I am always available to answer your real estate questions, I hope to speak with you soon.-- Kind regards,

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