The GTA's housing market has been quite volatile in recent months. With a cooling through mid 2017 after a sizzling first quarter. Many have asked, have we hit bottom? what will 2018 bring? will we drop even more? should we sell? Everywhere you turn, weather its the Television, Newspaper, Social Media, everyone has their 2 cents to add. Contrary to the nay sayers, we have seen the market stabilize after the government measures installed in April to slow housing prices, but with new measures and stricter lending rules, "stress testing" coming into effect January 1st, many buyers have hit the street and are out shopping! Those looking to make a purchase especially those looking to move up in the market place, now is the time to consider that move, as the qualification process come January will directly impact the amount one will qualify for using the traditional banks.
Those that own real estate in the Milton market, Oct 2016 avg home price $652,000, October of 2017 $723,000, an increase of greater than 10%. While we do not have a crystal ball, we expect a upward trend to continue into 2018 as there is still great demand for housing the area.