May Has Always Been a Month of Change

Thoughts From Judy Stacee-Cleaver,Broker of Record, FRI, ABR 

May Has Always Been A Month Of Change

In April, there were at least 61 Condo apartments that sold in the whole of Durham Region and 18 of them were in Pickering.    Ajax had just 1 Condo Apartment that sold, which was only on the market for 10 days. Never before has it been so important to list your property for sale at the right price. I'm not talking about Condo Townhouses, Semi's or Detached, but a Condo apartment. This is indeed a rare event!

April has lead us into May and May has always been a month of change and I believe we are on the brink of going forward.                                    I know you will think there aren’t a lot of Condo apartments in Ajax, but there are. Another one sold the following week and currently in Ajax, there are 12 Condo apartments for sale.  

My Mother's Day was fantastic! My daughter came to visit for the day, brought me two lovely, brightly coloured pots of flowers,     a lovely card and my favourite wonton soup as a treat along with several cans of Sandbagger coolers, which we enjoyed together outdoors taking in some of the sun's rays. 

She loves bringing everyone flowers, so no matter what the occasion, flowers it is! After such a dismal winter it was a joy to see such vibrant colors.

I had spent a few days before, checking out the Real Estate market. I love to give my 'opinions /thoughts' as to what's happening and why. We spent the last 4 years in the most volatile market ever and have been on a roller coaster ever since.                                                                         In 2020, Durham region prices rose over $400,000 in 2 years (so unhealthy), then prices spent the last 2 years adjusting downward by $130,000. 

They're still up by over $300,000. Every area has its own numbers, these are ours.

Twenty four months of prices going up, followed by the next 24 months adjusting downwards, leveling out... call it what you will. It's no wonder the Bank of Canada, in order to keep the prices from increasing too much again, is keeping rates up, however new construction has a say in this story, and I believe these prices are here to stay. Some people like working from home and others do not. Whether we like it or not, this too is here to stay.

Of course these are only my thoughts.                                                                                                                                                                        Have a wonderful Victoria Day Weekend!