Emily Chan Real Estate

💥JULY 2023 MARKET STATS💥

July sale prices were down in every asset class; the average sale price in July was $1,118,374 – a 5.4% decrease from June.

The sales momentum that was experienced earlier in the spring has slowed somewhat since the Bank of Canada restarted its rate tightening cycle in June. The uncertainty surrounding borrowing costs, the job market, and overall economy has definitely impacted home sales. Buyers will continue to wait and see what direction monetary policy takes before purchasing.

With increased immigration, it’s getting more difficult to find housing in the GTA. For more information on the above or for regional date, feel free to reach out to me directly.

☎️: 416.890.1824
📩: [email protected]

💥 JULY 2023 MARKET STATS 💥

July sale prices were down in every asset class; the average sale price in July was $1,118,374 – a 5.4% decrease from June.

The sales momentum that was experienced earlier in the spring has slowed somewhat since the Bank of Canada restarted its rate tightening cycle in June. The uncertainty surrounding borrowing costs, the job market, and overall economy has definitely impacted home sales. Buyers will continue to wait and see what direction monetary policy takes before purchasing.

With increased immigration, it’s getting more difficult to find housing in the GTA. For more information on the above or for regional date, feel free to reach out to me directly.

416.890.1824
[email protected]

💥 JUNE 2023 MARKET STATS 💥

I do not share the same beliefs as most real estate agents. I do not believe that housing prices should continue to rise and that consumers should “invest” in real estate. I do not believe that people should be profiting off of a “basic” human need, like shelter and housing.

I can absolutely relate to those young people who are struggling to make their mortgage payments, or those that struggle to find affordable housing. So it’s really discouraging to see borrowing rates increase without the fall of real estate prices. Though those trends may be seen in some parts of Canada, it’s not the reality in most of the GTA.

Regarding real estate statistics for June, the average price of a home in the GTA was $1,182,120, a 1.2% decrease month-over-month.
Real estate activity was higher, with an increase of 16.5% in sales year-over-year.

The GTA really needs more housing in order to accommodate the increasing population. If you’re looking for specific regional statistics or if you have any questions, don’t hesitate to reach out.

If you’re looking for a real estate agent that truly cares about you and your well-being, I’m your agent.

416.890.1824
[email protected]

💥 MAY 2023 MARKET STATS 💥

I don’t know why people are saying the housing market is crashing ... anyone who’s exposed to or in the market knows that it’s actually still 🔥🔥🔥. There is still a lack of supply compared to the demand for housing; new listings were down 18.7% year-over-year.

We have seen consistent growth in all asset classes in the GTA this year, with an average sale price of $1,196,101 – an increase of 3.7% month-over-month.

If you’re looking for specific regional statistics or if you have any questions, don’t hesitate to reach out!

☎️: 416.890.1824
📩: [email protected]