Much of the urgency in the Ontario real estate market in April appears to be coming from the sellers. Buyers are in no mood to rush.
When his office discussed a target price with the homeowner in January, the goal was to sell for $900,000, he says. Bay Street is keeping a keen focus on the Bank of Canada and its moves to rein in inflation with higher interest rates. Many market watchers are forecasting an accelerated pace of tightening with a 50 basis point hike at the central bank’s next policy-setting meeting on April 13.
He’s had clients move in the recent past to Port Dover, Ont., on Lake Erie and out-of-province to Alberta, Nova Scotia and Newfoundland. Ms. Puthon notes that on April 1, the Guelph market had 145 residential properties listed for sale. That’s a significant increase from a typical day in January, when there were between 12 and 15 listings available, she says.
Ms. Puthon says most agents in the single-family segment still appear to be using the strategy of setting an attention-grabbing asking price and an offer date. The list price is lower than the seller hopes to receive from competing bidders.
Wow, they don't jump to pay 2.4 million for a semi beside a wore out 1960s apartment building? Semis are not popular in Oakville as you don't have the walkable amenities that you would have in the Beaches to make up for lack of privacy.