By: Greg Brown

Real Estate Market Statistics Nov 2020 and Nov 2021

Tags: Real Estate, Toronto, Markham, Pickering, Ajax, Oshawa, Courtice, Bowmanville, Clarington, Durham region, Scugog, Port Perry, Northumberland, Kawartha lakes, Greg Brown, Sutton group

Unbelievable! Real Estate Market Statistics

I just compared the market prices from one year ago to now, and the prices have increased dramatically. 

WHY??????

- Interest rates at an all time low

- Supply last year (2020) was 25% down compared to 2019

- Supply in 2021 is 33% less then 2020

- Demand has increased, more new Investors getting into the real estate market and in less then two months flipping these houses for $50,000 - $200,000 more then what they purchased them for.

- We are seeing 8 - 32 offers being submitted per home.

- First time Buyers are being pushed out of the market, because there is no more homes in their price range.

- Entry level prices have increased by $250,000 - $350,000 depending on the area.

- The bank of Canada keeps holding off on raising interest rates because the government holds the most debt with them and it could bankrupt the federal government.

- Days on the market has decreased by 50%

 

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