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In another episode where we discover how much we don’t know, Eric Cleary, Realtor, joins us to talk about rentals, landlord tenancy, conversions, density intensification, and all things real estate. This is a great one whether you’re a landlord or thinking about getting into real estate investing.
The average sale price in Niagara reached $715,000 by April, experienced a minor dip in May, then recovered slightly in June to $712,000. As we moved into August, this number decreased to $680,000, a clear indication of how the rising interest rates have weighed on the market.
Right now, in July/August I have to remind sellers, please don’t go to the MLS to price your house. Buyers have more information at their fingertips through the MLS, through the photos, videos, and apps that let them know what your house has sold for. So if you’re trying to stretch the market, you’re not pulling the wool over the buyers eyes.
Neil Thornton always brings a trunk load of insight & big picture ideas to any conversation so we were thrilled we could trick him into spending an hour with us in the podcast studio.
Demand is picking up and prices are increasing in the GTA due to lack of supply. This is something I’ve been discussing for the past little bit because here in Niagara, what you need to know and understand is this is most likely coming our way. We are starting to experience that in certain price ranges and in certain locations in our region, as supply is now low and demand is high.
