Lots to unpack here! In this episode I discuss the market stats for January 2025 and the global market trends, highlighting the predictable downward trend in the average price for January and Bank of Canada's overnight rate, which I attribute to the high inventory environment in the condo sector and the decline in sales volume during the first half of December and January.
Welcome to a new episode of Building Wealth Through Real Estate...Brick by Brick with me, Nico James-Bock, Founder of The CondoWiz™ Group and Broker at Royal LePage Signature Realty in Downtown Toronto.
For Buyers, Investors and Sellers:
1. Buyers to consider purchasing properties in Oakville due to high inventory levels and potential opportunities.
2. Buyers to focus on making purchases in the next 4-6 months to take advantage of the declining interest rate environment.
3. First-time buyers to explore opportunities in Mississauga's condo market, particularly around the Square One area.
4. Sellers to carefully price their properties in line with market conditions to avoid turning away potential buyers.
5. Investors to monitor the condo market for potential opportunities as prices are expected to rebound in late 2025 and early 2026.
6. Market participants to closely watch the March 12th Bank of Canada interest rate announcement for potential further rate cuts.
7. Buyers and investors to pay attention to the Durham Region market, which is currently in seller's market territory with low inventory.
8. Market participants to monitor developments regarding potential U.S. tariffs and their impact on the Canadian economy and housing market.
Ciao ciao
Helping YOU Build Wealth Through #RealEstate #BrickByBrick
Book a time for a quick 15min Chat - Discovery: https://calendly.com/thecondowiz/15min
Social:
https://linktr.ee/nicojamesbock
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