By: Gavin Chen

February 2019

Tags: 2019 NEWSLETTER, ROYAL LEPAGE TERREQUITY BESPOKE REALTY, GAVIN CHEN, THE GAVIN CHEN TEAM, TORONTO REAL ESTATE, OAKVILLE REAL ESTATE, MISSISSAUGA REAL ESTATE

February 2019 - Labelled "The Freeze Out"

February has not been a fun month for all.  We have experienced several storm fronts resulting in severe cold and massive snow dumps - which is fantastic for skiers but caused driveway shovelers and commuters to cringe. 

For those of you that follow my Facebook page...you'll be happy to know and can sleep easy now knowing that I have been using my Toro snowblower.   My neighbours are happy too as I have been paying it forward and clearing their sidewalks, as my lovely past neighbour did for me when I first moved in.

Now onto equally important matters:  The market is, contrary to many, on an upward trajectory with pricing showing a 0.6% increase in number of sales since Jan 2018, and the HPI composite benchmark pricing showed an increase of 3.7% since Jan 2018. 

Interest rates are trending down and I expect reductions this spring which should assist in bringing more activity and increased financing ability and thus, increased buyers and demand to the market.  The "Stress Test" was a speed bump instigated to slow the growth, which it did successfully, but none of the primary market factors have changed.  Ultimately, the market will continue to appreciate and grow.

We expect of the strongest activity and growth to be in the condo market as it's the segment with the most new inventory, highest demand and also the most attractive pricing.


Foodie Tip:  General Assembly Pizza - I may have eaten 2 on National Pizza day.  Some interesting less traditional ingredients.  Not the cheapest nor the largest, but the quality is top notch.  Great thin crust without the sore jaw chewiness of Pizza Libretto.  Bright and open dining area and separate take out counter.