Three Beds Freehold town and Semi houses in Scarborough were short of supplies - June 2021

Three Beds Freehold town and Semi houses in Scarborough were short of supplies - June 2021

Three Beds Freehold town and Semi houses in Scarborough were short of supplies - June 2021

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Three Beds Freehold town&Semi in Scarborough were short of supplies - June 2021

Freehold Attached Market

The freehold attached houses' average price, including town, semi, and link houses, was unchanged v.s. last month, up 16.3% from the same month last year. The average time to sell this type of home is around 11.4 Days. The current month of inventory of Attached houses in Scarborough is about 0.6. Therefore, this segment of housing is currently in a Strong Seller's Market.

Freehold Detached Market

The average price of detached houses was down 2.2% from the previous month, up 13.1% from the same month last year. Approximately 75% of total freehold units sold in Scarborough last month are Detached houses. If you plan to buy a detached home in Scarborough, you will need to spend an average of $1.06M. The current month of inventory of detached dwellings in Scarborough is around 0.95. Both sold and new listings dropped around 18%.

Condo Market

The average price of the condo remained unchanged v.s. last month. It is buyer’s advantage in the follow months as more new listings coming to the market in the past months.

With summer months coming, we will keep a close eye on two key indicators related to the housing market, interest rate and landed immigrants.

Many economists predict the BoC would increase the interest rate earlier due to the inflation risk. Given the significant increase in debt for the Canadian household, the sensitivity to the interest hike will be much higher than in the past, which will hit the economy harder if BoC waits too long to hike the rate. Such fear of inflation may drive the BoC to raise the rate sooner than most people expected.

The progress of ending this pandemic will be one of the critical factors to affect new Immigrants landing in Canada. We almost see the light at the end of the tunnel as more and more Canadian are fully inoculated. But variant viruses are still a big uncertainty.

If you plan to move to Scarborough or you want to learn more about real estate investment opportunities in Scarborough, please contact Toronto real estate agent Realtor Alan Zheng at 647-877-9311.