The release of key housing market statistics for April 2020 illustrates that the semi-detached & townhouse market segments show an annual average growth above the inflation rate. The condominium apartments and detached home segments experienced price declines when compared to prices in 2019.
If you're a first time home buyer, you'll get the most bang for your buck by purchasing a Condominium; it's the window of opportunity to get a sweetheart deal you've been waiting for. If you're an upgrader this is a tremendous opportunity to sell your semi-detached or townhome and scoop up a detached home for a better price than you would have gotten a few months ago.
Real Estate is still the best investment today. The average selling price for April 2020 transactions was $821,392 compared to the average selling price of $820,373 for April 2019 (up by 0.1%) even amidst COVID-19.
GDP is down 0.4% compared to 2019
the unemployment rate is up 6.0%
Inflation is down 0.9% compared to 2019
If you or someone you know is thinking of buying or selling a home and would like a Free Market Evaluation or specific statistics for a region/neighborhood, please call me I will be happy to help and answer any real estate questions.
Your Friend in Real Estate,
Christine Ivy Stephenson | Real Estate Agent
O: 905-695-7888
F: 905-695-0900
C. Ivy & start packing
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