Leaving the Fence

For the first several months of 2018 we have been skipping back in time to compare current market conditions with 2016 now that the market has stabilized compared to the first part of 2017.  In July 2018, in Aurora 66 freehold homes sold and 14 condominium apartments and townhomes sold as well.  In July of 2017 only 50 homes of all descriptions sold for the month.   That’s a 46 per cent increase year over year which speaks to an improvement in consumer confidence in spite of interest rates increasing, lenders tightening their policies, foreign buyer taxes levied and the major spike in supply of homes for sale.

This drastic shift in action from July 2017 when it felt like Buyers decided to just stay on the fence before taking action is a great sign of potentially a stronger market to come by the Fall as more consumers start looking for homes with kids heading back to school and summer vacations winding down.  The future looks bright in Aurora and this sentiment is shared across York region where numbers of all home types sold collectively was greater in July 2018 over 2017.

For a face to face appointment and candid discussion about your next move in real estate reach out to a real estate specialist in your area.

-written by Connie Power

Connie Power is a Real Estate Sales Representative CNE® SRS® ABR® SRES®, Mentors and Develops New Real Estate Sales Representatives for RE/MAX Hallmark York Group Realty Ltd.,  Brokerage serving York region and beyond in the Greater Toronto Area (GTA).
Empowering you in Real Estate, Call Connie today to make an appointment to discuss your next move at (905) 726-0856.

*The statistics provided herein were obtained from the Toronto Real Estate Board; Regional Housing Market Tables; York Region, Aurora for July 2016, 2017.  Official TREB  Regional Housing Market Tables; York Region, Aurora for July 2018 were not officially released at time of print; these preliminary numbers were derived directly from TREB York Region, Aurora inquiry for July of 2018.

***Not intended to solicit those currently under a real estate contract.