The government has pleased us with another interest rate cut, but will it have an impact on the real estate market? According to experts, after more than a year of unprecedentedly low activity, the GTA housing market is ready for a rebound.

Katerina Atapina: From my experience, townhouses or houses under $1 million are still actively changing hands, and houses under $1,600,000 are also selling, but much more slowly. Relatively inexpensive (up to $600,000) and large condominium apartments, which can still be found on the secondary market, are very popular with young families and those who buy real estate for themselves. Unfortunately, the market for new, newly built condos continues to be in a “slow” state.

At the same time, I see how profitable it is to enter the real estate market right now, in a “buyer's market”. You can calmly look at several houses or apartments, and you can also haggle. For example, last month I helped my clients, a young family, buy a beautiful 2-bedroom apartment, originally listed for $598,000, for only $505,000. With my other clients, we managed to buy a 3-bedroom townhouse in the York region for less than $800,000.

Let me remind you that I offer excellent conditions: I sell for 1% commission and give 1% back from my Buyer’s agent commission.

As for new residential real estate from developers, under these conditions you can view and buy new, almost finished housing, with move-in dates in just 2-6 months and with a huge discount. Let me remind you that our company, brokerage Homelife, is one of the few that has access to very interesting projects and special discounts and bonuses for our clients.

When buying a home under construction, there are excellent bonuses from developers and, of course, from me!

Life goes on in the York region! We are seeing an increase in interest from home buyers. For example, I have helped my clients make a great purchase – a stunning 2,600 sq. ft. home with 4 bedrooms (and huge potential for 5 more bedrooms!) for $1,200,000 in the York region, which they will be able to move into as early as March of next year. Other clients, with my help, were able to purchase a beautiful home, over 4,000 sq. ft. – an incredible deal for my clients, since the developer knocked almost $250,000 off the price of similar homes in the previous phase of construction.

Activity in this segment led to the fact that prices for houses in the York Region in June 2024 jumped by 3.4% to $ 1,390,000, despite the fact that the number of sales decreased by almost 17%, and the number of residential properties for sale increased by more than 66% compared to last year.

Attention! A beautiful house in Aurora, after renovation, with a pool and two garages, will soon go on sale.
I would like to separately mention residential real estate in the picturesque suburbs of the Greater Toronto Area. A country house near the lake is your own piece of paradise, a dream come true, an opportunity to escape the hustle and bustle of city life and enjoy a quiet healthy life surrounded by picturesque nature.

Attention! A cozy 4-season house for those who want a summer cottage or just real estate in Canada just 15 minutes from the picturesque Lake Huron has gone on sale for only $ 300,000.

In conclusion, I would like to note that if you are considering buying real estate, you should not wait for further changes in the market, because there is no clear answer that these changes will be in your favor. You should buy when there is an opportunity and favorable conditions for this, for example, now, in the "buyers' market".

KaterinaAtapina

Tel: (416) 833-8939
katyaatapina@gmail.com