A New Year, a New Etobicoke Real Estate Direction?

The 2021 Etobicoke Real Estate Market

In 2021, we saw record real estate prices in Etobicoke and surrounding areas, along with most other markets across the province. The price increases were driven by several factors, but the most powerful driver was historically low interest rates combined with low inventory.

✓ Want to know how much homes are selling for? Take a look at our collection of Etobicoke Sold Data right here.

Expectedly, the freehold housing market in Etobicoke saw the strongest surge with homebuyers continuing to prioritize more space for work and leisure. This contributed to multiple offers and above-asking prices on most properties.

We saw a strong re-bound in the condo market, which had been softened by the pandemic initially. While the first half of the year saw a dip in price and volume, the market picked up and bidding wars are back in a big way. We expect both prices and volume of sales to increase beyond pre-pandemic levels by mid-2022.

✓ Want to learn more about the Etobicoke real estate market? Here are some resources that might help:

Our 2022 forecast

  1. Freehold homes will continue to increase in price but not at the pace of 2021
  2. Condos will see the highest percent increase, as freeholds become unaffordable for many buyers
  3. We will see interest rates rise, but not significantly enough to have a meaningful impact on the market
  4. Buyer fatigue will increase with some buyers deciding to wait out the current market conditions
  5. The provincial government will likely introduce new measures to increase housing supply as it’s an election year

Our buying and selling advice

  1. Don’t try and time the market. If the pandemic has taught us anything, it’s that no one can really predict what’s next. Move when the time is right for you and your family.
  2. When possible, try to buy and sell in the same market to help reduce your risk of the market moving up or down.
  3. With open houses being restricted in Toronto once again, buyers are now doing more of their research online before they decide to preview a home. For sellers, this means that you need to make sure your home stands out online and is visible to as many buyers as possible. Going with an agent that has a strong online presence is more important than ever.

If you’re thinking of selling and don’t know where to start, get in touch. We’d be happy to help. You can learn more about selling with us here:

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