June’s TRREB numbers have been published and they are very strong. Days on market is down to 13 days, average prices are up 11% reaching $1,089,536. The supply of housing for sale is decreasing as is the supply of homes for lease.
In September, tens of thousands of College and University students return to the classroom. The total wave of tenants and buyers will swamp our market.
Rent prices will rise 25% over the next 4 months and condo prices will soar. If you’re in the market to rent or buy, now would be the time to move.
Brad J. Lamb