The January 2019 Market Trend report from Right At Home Realty.
Year over year, compared to January 2018, not much has changed. However, prices continue to creep up. When we’re talking hundreds of thousands of dollars, even a 1.7% increase is significant.
Clients have been asking if prices are up or down. There is no simple answer. For example, in the east end Danforth area, many houses are going multiple offers, selling well over list price…it’s very much a seller’s market (in large part due to shrewd initial pricing by sellers and limited supply). In Brampton, prices for the most part, seem to be trending down. In central Mississauga, prices seem fairly steady. In some nice parts of Burlington, prices have definitely come down over the past year. So you can see…it really depends where you’re looking.
The bottom line is that it’s tough to time the market. If you need to buy that’s the best time and the same if you need to sell. For investment properties, areas outside central Toronto are more likely to provide a plus return each month. In the Toronto core, you will almost certainly be negative cash flow for the first five years.