January 2020

By: Gavin Chen

January 2020

Tags: 2020 NEWSLETTER, ROYAL LEPAGE TERREQUITY BESPOKE REALTY, GAVIN CHEN, THE GAVIN CHEN TEAM, TORONTO REAL ESTATE, OAKVILLE REAL ESTATE, MISSISSAUGA REAL ESTATE

January 2020

Happy New Year!!

With all the news about interest rates, housing sales and forecasts, you might think that the real estate market is a bewildering place.  In some ways, you’d be right!  The market is certainly active.  There’s a lot going on.

But it would be a mistake to let all that noise discourage you from making a move.  If the timing is right and you’re ready to upsize or downsize - or simply move to a neighbourhood that better suits the lifestyle you want - you should at least get the information you need to make the best decision.

I can help.

As your real estate professional, I’m always available to help.  I can fill you in on what’s happening in the local market, help you determine what kind of new home you are qualified to purchase and give you a clear idea of the properties currently available.

You don’t have to try to figure this stuff out on your own!

Even if you’re just at the “thinking about it” stage, I recommend getting the information you need now.  That way, you’ll be prepared to make the best decision when you’re ready.

Realty Stats: Sales were up 17.4% in December 2019 and sales were up 12.6% in 2019 (87,825) versus the market decade low in 2018 (78,015).  Pricing will continue to appreciate in 2020, and the market is still expected to have inventory issues.  December showed a massive 12% increase year over year, and the Composite Index conveyed a 7.3% average price increase year over year, with an acceleration in the latter half of the year. 

The rental market took a strange slow down tail end of the year, but we expect the high competition and low inventory to increase as the year progresses. 

Immigration is slated to increase by roughly 100,000 to Canada this year and interest rates look to be holding...if not lowering moving forward.

Foodie Tip: Zheng's Juicy Fried Buns - 4750 Yonge St. #142 - for a quick greasy snack...these buns were pretty good.  Fillings include: pork, pork and shrimp, or pork and salted egg.  Rare to find the salted egg filling and was quite good.  Different than Xiao Long Bao as these are bigger, doughier and have a crunchy bottom.