February Market report Brampton plus....
Contrary to popular belief, the GTA real estate market is showing resilience.
Prices began to rise at the beginning of 2018. This trend continues this year as average prices rose 1.6% compared to February 2018. Prices have risen 6.2% since December of 2017, when prices were at their lowest after reaching an all-time high in March of 2017.
The upward pressure on price is a direct reflection of the tight supply of homes available for sale of 2.7 months of inventory (prices have been higher year over year for eight of the past nine months). Industry insiders view anything under 4 months as tight supply and a sellers’ market, 4 to 6 months as balanced market and above 6 as a buyers’ market.
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