Home Trends from Ed Wang & Christopher Wannamaker

THE W GROUP REAL ESTATE

Royal LePage Connect Realty

We have some exciting news to share to help you battle the cold winter weather and gloomy February days. Chris and some of his family members were on Family Feud! We won’t give away too many details, so tune into the episode on February 16th at 7:30pm ET on CBC. Did we get to the final round and win the jackpot? Watch and see! Regarding the Toronto real estate market, on January 25th the Bank of Canada announced another 25-basis point rate increase, with a further planned announcement coming on March 8th. Despite all the rate increases over the past year meant to help cool inflation, so far in 2023 we have seen quite a bit of activity. With low inventory and few listings to choose from, and with many buyers out in full force, we have seen the return of bidding wars for many listings. Moreover, some properties that have been on the market for several months are now finally selling. It remains to be seen if this increased activity will continue into the traditionally busier spring market or if things will once again cool if more inventory hits the market or if buyers take another pause, and we will be watching closely. As always, please feel free to reach out to us any time to talk about the market or your situation. Stay cozy and warm! Your Friends, Ed + Chris

Office: 416.588.8248 | www.wgrouprealestate.ca