How's GTA Real Estate Market. Vancouver has been dud for now

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Member since: Jan 07
Posts: 3252

Post ID: #PID Posted on: 14-11-16 14:20:45

Just wanted to check with you guys as to how's the Real Estate market faring in GTA these days? Here in Metro Vancouver it's been dud since the Premier introduced the 15% Property transfer tax. I don't see the prices have fallen considerably, but houses have been sitting in the market for quite some time now (over a month). Even buyers are withholding.

I was talking to a cousin of mine, who lives in Milton. She listed her house (4 years old detached - 3 level) about 2 weeks ago and it is still not sold. I thought houses in GTA were flying off the shelves?

Another inquiry. In this market, what is the probability to find a detached+3 level in a decent Brampton neighborhood and close to GO Station (Mt. Pleasant?) for about or less than $750k?

Member since: Jul 04
Posts: 1853
Location: GTA, Ontario

Post ID: #PID Posted on: 14-11-16 16:17:59

Its slow, as it is not a buying season, there aren't that many buyers now.
but you will be paying the price what you would have paid in summer, the pace could help you to get some bargain.
I am not familiar with the Brampton area, but 750K I guess a 2500 SQFT house could be bought. Pls correct me..if not very accurate.

The cowards never started,
The weak died on the way,
Only the strong arrived.

Member since: Nov 04
Posts: 938
Location: Brampton

Post ID: #PID Posted on: 14-11-16 18:03:13

In the Mt Pleasant area, you can find a detached house of around 2500 to 2800 sq ft for 750K. In that area, there are some houses where the builder finished a part of the basement and included that area in the square footage of the house so be careful.

The multiple offers situation is no more but the prices are also NOT coming down. They are still on hold for most of the cases.

A Delhite in Toronto

Member since: Jan 07
Posts: 3252

Post ID: #PID Posted on: 14-11-16 18:14:05

Originally posted by futureguy

Depends on the Sq. Ft. A detached 3 level house (finished basement ) can be 5 BR house or a 4 BR, 3 BR house.

4 BRs.

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