September’s Newsletter: TO’s Best Happy Hours – September Events – Riding the Rate Waves: Condo Investors Navigate Selling Amidst Mortgage Hikes
September 8, 2023
Summer may be coming to an end but what better a time to embrace the vibrancy of fall by enjoying an action packed month of festivals. Toronto is buzzing with spectacular events! There’s so much to do that you won’t even have time to reminisce about summer days gone by. If you’re looking to slow down the pace a bit, September is also the perfect time to check out one or more of the city’s best happy hours listed below!
Toronto’s real estate market continues to be in flux due to higher borrowing costs and uncertainty about the economy. Maybe not so surprising, there were more listings available this past August than in August 2022. Interestingly, prices are still holding fairly steady. All of this is an indication that people are looking to sell but are not dropping the asking price out of desperation.
The announcement by the Bank of Canada to hold rate steady is definitely a good sign. The next rate announcement isn’t until the end of October which means that mortgage rates will be stable during the mid portion of the fall market. I’m hopeful this adds to consumer confidence and fuels the market enough to maintain a steady pace.