Are you on the fence right now of buying or selling? Well, I totally understand, given everything we have going on right now in the economy and the world. There's lots of uncertainty. So let's review the facts.
Hello everyone, my name is Jessie Banwait, with the Jesse Banwait team with RE/MAX Real Estate Center. One of Canada's largest real estate firms, Royal Lepage says "launch the interest rates and the need for more space and with the pandemic creating a surge in home prices in the second quarter of 2020, and jacked up prices all across Ontario. Buyers are prioritizing space for improved quality of life in the new norm. Locals are moving up to larger properties and the GTA based buyers are looking for more affordability to get more house for their dollar. Royal Lepage CEO, Phil Soper, said, "Online viewership a watch your listings outside of Toronto in X urban regions are on the rise." So due to low-interest rates, the demand for housing is high. Inventory is low, which also drives prices up. Here's another quote for Realtor Magazine, who questioned people about the likelihood of moving, nearly 30% of respondents living in high density, urban areas say, "The pandemic is prompting them to want to move by the end of the year." So people that are living in condos and hires are wanting to move to rural areas. Also in many secondary investment areas, our recent market report released by Royal Lepage the average unit price in Ontario's Muskoka Ontario region increased by 15% year over year between January 1st and May 31st, 2020. Realtors in the region I've reported a record sales with 278 cottage property sold just last month, a 73% increase year over year, and a significant increase in interest from city dwellers who are ready to trade in the city for rural living numbers. Vaughan just North of Toronto saw 83% jump in May, with the same time last year, Peterborough and Lindsay were up 56% and Kitchener and Cambridge saw an increase of 53%. "The pandemic has caused a lot of people to re-examine their priorities. And because of these re-evaluations, the market has perhaps changed in some ways forever within Canada and the world." Real estate expert for Odeen Eccleston.
So right now the housing market looks good. We need to give a close side of what's happening and not making judgments based upon inaccurate information or data. My team and I would be happy to meet with you to discuss your selling or buying deals. All you need to do is pick up the phone and call us. So give us a call, we'll be happy to help you sell your Mississauga home. This is Jessie Banwait here as always be safe, stay informed, and reach out to us anytime.