David Florida Realtor

TRREB Has Released September Market Stats

September saw buyers return to the market to take advantage of more favourable interest rates and a higher than typical level of inventory. In fact, last month broke a record for number of active listings with 10,022 available on the market.

The increased number of sales was more than matched by the number of homes available on the market. Increased inventory gave buyers more negotiating power, which has led to a very moderate year-over-year price decline.

Relaxed financing requirements and longer amortization periods for mortgages are another factor encouraging buyers to return to the market. More homebuyers are able to take out mortgages on homes for over $1M with the new regulations and people who already hold mortgages are able to shop around for better rates without the penalty of a stress test.

Finally, first-time homebuyers are enjoying opportunities in the more affordable condo and townhome markets. The condo market has broken another record with the highest level of inventory on record at 4.9 months. These conditions have allowed many more people to get into the game of property ownership.

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Multiple 1-bedroom Units available at Empire Maverick for lease.

Contact me for access to unlisted one-bedroom condos for lease at the stunning Empire Maverick building. South-East and North-East corner units are available in the $2,500 / month range. Smaller East-facing units available for $2,300 - $2,400.

DM for details.

thank you cards

it was a good month