The “New Seller Phenomenon”: Staying Home During Showings — and Why It’s One of the Biggest Mistakes a Seller Can Make

Gain, MBA Dana



If you’re preparing to sell your home, one of the biggest home selling mistakes you can make is staying home during showings. Many sellers believe they’re being helpful — answering questions or pointing out features — but in reality, it’s one of the easiest ways to make buyers uncomfortable and lose their interest. As an experienced Realtor in Ancaster and Hamilton, I’ve seen firsthand how stepping out during a showing can help your home sell faster and for more. Here’s why leaving is one of the smartest real estate showing tips a seller can follow.


The Trend


There’s a curious trend happening in real estate right now, and it’s not a good one. More and more sellers are deciding to stay home during showings — and it’s costing them in ways they don’t even realize.

I call it the “new seller phenomenon.”  even though it's not really new. Maybe it’s because of the market slowdown, or maybe it’s just human nature — sellers want to be helpful. They think, “I know my house best. If I’m here, I can point out all the upgrades and make sure buyers notice what makes my home special.”

Unfortunately, this almost always backfires.


Why Sellers Feel the Need to Stay


As a listing agent, I understand the impulse. You’ve lived in your home for years. You know every improvement, every custom detail, every reason it’s worth the price. You’re proud of it — and rightfully so.

But here’s the truth: what feels “helpful” to you feels awkward and intrusive to buyers.



When buyers arrive for a showing, they’re trying to picture themselves in the home. They want to walk in, breathe, and start imagining their life there — their furniture, their family dinners, their routines.

The moment they see the seller inside, that entire emotional process shuts down.

They’re no longer thinking, “Could I see myself living here?” They’re thinking, “How fast can I leave without being rude?”


My Personal Experience: The Lunch That Killed the Showing


I’ve seen this happen more times than I can count — both when I’m representing buyers and when I’m representing sellers.

The most recent example was about a week ago. I was showing homes to a brother and sister who were looking to buy together. We pulled up to the property, I got out to open the lockbox, and they followed me up to the door. Everything felt normal — until the door opened and the seller herself was standing there.

I handed her my card and said, “Hi, we’re here for the confirmed showing.” She smiled warmly and said, “Oh yes, of course — come on in! We’re just sitting down to lunch.”

At that moment, we looked into the house and saw a dining table with six people sitting down, waiting for the lovely lady to join them.



I turned to look at my clients. The sister whispered, “Oh no, Dana, I just can’t.” Then she turned around and walked back to the car.

As we were leaving, the husband — who was getting into his car — called out, “Hey, why are you leaving? Didn’t you want to see the house?”

And I had to say, “I’m sorry sir, my clients prefer to view a house when no one is home.”

They weren’t being rude. They were being honest — and that’s exactly how buyers feel in that situation. Uncomfortable, self-conscious, and eager to leave.

That showing lasted 30 seconds, and the buyers never went back. That seller had no idea that her friendly gesture cost her a potential sale.


When I Discover Sellers Have Stayed Home


It happens on the seller side too. Sometimes I’ll get feedback from other agents that surprises me. The home will have been tidied beautifully, the photos look great, and I’ll expect strong feedback — but the showing notes will say something like:

“Family was sitting in the living room during showing. Buyers felt uncomfortable.”


I always cringe when I see that. Not because the sellers did anything wrong in their eyes — they probably thought they were being polite or simply staying out of the way — but because I know how it looks and feels to a buyer.

The living room might as well be a wall. Buyers don’t want to wander around someone’s home while the owners are sitting there, watching TV, pretending not to listen. It’s awkward for everyone.

And the sad part is, most of the time, sellers don’t even know they’ve hurt their chances. The showing agent gives polite feedback, the buyers move on, and the opportunity is gone forever.


Why It’s Such a Big Mistake


There’s a psychology to selling real estate that goes far beyond granite countertops and square footage. Buying a home is emotional.



Buyers don’t fall in love because of data. They fall in love because of feeling.

They walk in and instantly imagine their morning coffee in that kitchen, or their kids running down the hallway. But that emotional connection can’t happen when the current owner is physically present. It’s impossible for buyers to imagine themselves in a home while the person who already lives there is still sitting in it.

Here’s what happens when sellers stay home:

  • Buyers rush through the showing instead of lingering.

  • They whisper instead of talking freely.

  • They miss details because they’re distracted by politeness.

  • They skip feedback because they don’t want to offend anyone.


In short, they don’t connect emotionally, and they don’t stay long enough to consider writing an offer.




The Best Thing You Can Do as a Seller


If you’re selling your home, the single best thing you can do for every showing is leave.

Go for a walk, grab a coffee, visit a friend — anything that gets you out of the house for 30 to 45 minutes.



And yes, it’s inconvenient. Packing up the kids and pets or finding somewhere to go on short notice isn’t easy. But those few moments of inconvenience can mean the difference between your home sitting on the market and receiving a great offer.

The best help you can give is to let buyers explore freely and experience your home on their own terms.


Final Thoughts


Over my years in real estate, I’ve watched this “new seller phenomenon” play out countless times — and it always ends the same way. Buyers feel uncomfortable, sellers feel confused, and the home sits longer than it should.

As friendly and well-intentioned as it seems, staying home during showings tells buyers, “This is still my house.” But the moment you leave, it whispers something far more powerful: “This could be yours.”

Selling a home is about creating that emotional opening — that space for imagination, comfort, and connection. So, when the next showing request comes through, do yourself a favour: grab your keys, take a drive, and let your home do the talking.***




About Dana Gain


Dana Gain is an award-winning real estate broker with Right at Home Realty Burlington, consistently ranked among the top agents in her office. Known for her data-driven marketing, luxury staging advice, and client-first approach, Dana helps homeowners across Hamilton, Ancaster, and Burlington maximize their sale price through smart preparation and strategic exposure.


📞 Connect with Dana: DanaGain.com | Instagram @DanaGainRealtor | Facebook @DanaGainRealtor

7 Powerful Low-Cost Updates to Get Your Home Ready to Sell

Gain, MBA Dana

When it’s time to sell your home, one of the smartest things you can do is make it look fresh, bright, and move-in ready—without spending thousands.

You don’t need a full renovation to make a big impact. Over the years, I’ve helped hundreds of sellers prepare their homes for the market, and one thing is always true: buyers make up their minds within seconds of walking through the door.

It’s not just about square footage or finishes—it’s about how the home feels.

If you’re thinking of selling soon, these seven low-cost updates can dramatically improve your home’s first impression.


1. Paint the Interior: The Ultimate Refresh



Few updates deliver a better return than a fresh coat of paint—it’s like pressing reset on your home.

Choose neutral, modern shades like soft greige, warm white, or pale taupe. These colours photograph beautifully and help spaces feel larger, brighter, and cohesive. Buyers want to picture their own furniture and art on your walls, and a clean, neutral backdrop makes that easy.

Don’t skip the trim and doors—crisp white baseboards and clean door frames instantly signal that your home has been well cared for. Even painting just your main living areas can have a dramatic effect.


2. Replace Every Lightbulb with Daylight Bulbs



This one sounds minor, but it’s a total mood-changer.

Inconsistent or dim lighting can make even a beautiful home feel dated. Replace all bulbs with LED daylight or bright white. They’re inexpensive, energy-efficient, and create a fresh, modern glow that flatters your rooms and your listing photos.

Consistency matters—make sure every light in the home has the same colour temperature. The result is a home that feels bright, clean, and cohesive from room to room.


3. Reseal Your Driveway for Instant Curb Appeal



First impressions begin at the curb.

A clean, freshly sealed driveway tells buyers, “This home has been cared for.” Over time, driveways fade and crack. A quick reseal protects the surface and adds rich contrast against your lawn and walkway.

If weeds have popped up between your pavers or along the edges, take time to pull or trim them. The goal is neat, tidy, and ready for the next homeowner.


4. Clean Up the Yard: Mow, Edge, and Trim



A manicured yard adds instant charm.

Cut the grass, edge along the sidewalks and flowerbeds, and trim any overgrown bushes or trees. If your garden beds look tired, add a layer of dark mulch—it’s one of the fastest, lowest-cost ways to make your landscaping pop.

In winter, the same reasoning applies. Clear and salt your driveway and pathways before photos and before showings.

Power-wash patios, walkways, and decks for that crisp, well-maintained look that buyers love.


5. Clear Surfaces: Less Really Is More



When buyers tour your home, they’re looking for space, not stuff.

Remove almost everything from your countertops—appliances, mail, knick-knacks, and clutter. Leave one or two decorative accents, like a bowl of lemons or a vase of fresh flowers.

Apply the same rule to the floors: remove laundry baskets, extra rugs, and anything that breaks up the visual flow.

As I often tell my clients: If you wouldn’t see it in a model home, it probably shouldn’t be on display during showings.


6. Remove 50% of the Items in Your Closets



Storage sells homes.

Buyers open closets, and what they see should be space. When a closet is packed, it sends the message that storage is limited.

Remove half of everything—yes, half—and organize what’s left neatly. Group items by colour or type, and store out-of-season clothing elsewhere. Your closets will instantly feel bigger, cleaner, and more luxurious.

Bonus: you’ve already started packing for your move!


7. Magic Eraser: Remove Scuffs and Marks



This is one of my secret weapons.

Scuffs, fingerprints, and light marks on walls and doors can make a home look tired, even when it’s clean. Use a Magic Eraser on high-traffic areas—hallways, staircases, near switches, and around door handles.

In just 30 minutes, your walls will look freshly painted again. Buyers won’t notice what’s missing—they’ll just see “well-maintained.”


Final Thoughts: Small Updates, Big Impact


Selling a home isn’t only about location or price—it’s about presentation.

Today’s buyers scroll through dozens of listings before choosing which homes to visit. The ones that stand out are crisp, bright, and move-in ready.

Each of these small updates works together to create that feeling. For a few weekends of effort and a few hundred dollars, you can add real value to your home and make it shine online and in person.

If you’d like a personalized checklist to get your home market-ready, I’d be happy to walk through your property and share exactly where to focus. Often, a few smart tweaks are all it takes to make your home stand out—and sell faster.

Because when your home looks its best, it doesn’t just sell quicker—it sells smarter.***




About Dana Gain


Dana Gain is an award-winning real estate broker with Right at Home Realty Burlington, consistently ranked among the top agents in her office. Known for her data-driven marketing, luxury staging advice, and client-first approach, Dana helps homeowners across Hamilton, Ancaster, and Burlington maximize their sale price through smart preparation and strategic exposure.


📞 Connect with Dana: DanaGain.com | Instagram @DanaGainRealtor | Facebook @DanaGainRealtor

Your Questions Answered: How the New Mortgage Rules Affect You

Gain, MBA Dana


The announcement was just a few days ago, and already the questions are pouring in.

To help, today I’m going to walk you through the two key changes coming into effect December 14, 2024: (1) An increased threshold for mortgage insurance; and (2) A longer amortization for first time buyers.

 

Part 1: Increased Cap for Mortgage Insurance


To begin with, let’s talk mortgage insurance. According to the announcement, “The federal government is raising the price cap for insured mortgages, increasing the limit from $1 million to $1.5 million. This allows buyers within that range to qualify for mortgage insurance.”

So, what does this mean for home buyers?

Until recently, if you had less than a 20% down payment saved, you would have needed to obtain mortgage insurance when buying a house. This is still true.

The part that has changed is the amount you could spend on the house in order to qualify for less than 20% down. Until this announcement, the limit you could spend on a house and still bring less than 20% down payment to the table was $1.0M.

Beginning December 14th of this year, you can now spend up to $1.5M on a home and still qualify for mortgage insurance. This means you can have a much lower down payment than 20% and still be able to buy a home over $1M.

Now of course you don’t need to spend $1.5M, you could for example buy a nice townhouse in Oakville for $1.1M. In this case you would only need a $110,000 down payment, whereas before you would have had to come up with a minimum of 20% down, or 220,000.

It's important to understand that mortgage insurance, like any insurance, costs money. The risk that your bank is taking in allowing you to borrow money on a more expensive house is mitigated by the mortgage insurance, which is usually tacked on to the mortgage principal. This will make your mortgage payments a bit higher, but for many people this is preferable to waiting another year or two to save the extra hundred thousand dollars in down payment.

In short, the idea is to make the dream of home ownership a reality for more people, especially in places like the GTA where let’s face it, it’s pretty common to be looking at houses around the $1M mark.

Part 2: Expanding Eligibility for 30-Year Amortizations

The other important change is the expansion of 30-year amortization periods for insured mortgages. This longer amortization option will now be available to all first-time homebuyers and those purchasing new construction homes.

Remember, if it’s an insured mortgage that means you have less than a 20% down payment

The idea with this change is that longer amortization periods help to ease the burden of today’s high interest rates. Just click below to use my mortgage amortization calculator and you will see a noticeable difference in your monthly mortgage payments when you add in those 5 additional years to a pay it off.

Now, I’m not a mortgage broker or a financial advisor – but buyers should understand that a longer amortization – a longer time to pay off the mortgage – means that you will be paying less towards the principal and more towards the interest in the payments for the first few years of that mortgage.

We recommend that you touch base with your friendly neighbhourhood mortgage broker to discuss your own personal situation. I always encourage my clients to be sure you have all the information and understand the financial implications before going ahead with a home purchase.

As you might imagine, there are lots of complexities built into these changes. It’s important that you get the best possible advice from your mortgage broker because no one likes financial surprises, especially with a purchase as big as a home.

Here's the complete article from the Government of Canada. You will find complete information in the article including who qualfies.

If you find yourself impacted by the new mortgage rules and this opens the door for you, as it’s designed to do, get in touch today so I can set you up on a customized home search and of course answer any question you have.


Open Bidding Unveiled: A Guide For Sellers & Buyers

Gain, MBA Dana


It’s been in the news for a few years and now it’s finally here. Open bidding. 

Rather like…an auction in slow motion. 

In an auction, however, everyone in the room hears the new bid whether they are participating or not. In real estate, by contrast, the information is only disclosed to buyers who have submitted written offers. A verbal submission or one that has not arrived yet, these don’t count (so these potential buyers are out of the loop). 

 

Here we will look at circumstances that may lend themselves to an open bidding situation, what a seller needs to know, and how a buyer can best prepare themselves.

 

Open Bidding: The Scenario

 

The most likely scenario for open bidding to occur is in a bidding war. That is, two or more buyers competing for the same home.


Competition usually develops because of a lower-than-market listing price. The highly attractive price stimulates interest, and buyers of all budgets line up to view the home.



A presentation date is set, and these same buyers get ready to compete.


Under the old legislation, content of competing offers could not be shared; all information was kept strictly confidential. 

 

Starting December 1st, however, the door is now open for home sellers to share all or any part of bids they have received, if they wish. 

 

The method is designed to create transparency. Buyers might be made aware of the highest price on the table, for example, and could then make an informed decision about whether they wanted to increase their number. 

 

What Information Can Sellers Share?

 

Sellers can reveal select terms and not others. It need not be full disclosure, but it could be. Sellers can also share nothing at all; they are under no obligation to do so. It will depend on the seller’s individual circumstances and what strategy is expected to work best in that situation.



One seller might opt to share offer amounts, while another might decide to share only conditions of the competing bids. Perhaps a seller wants to share closing dates in the hopes of obtaining an early closing and finalizing the transaction more quickly.

 

A seller’s goal in the open bidding process will be the same as it was before the legislation changed: to negotiate the best possible terms of sale.

 

Once a seller decides which information they wish to share among the buyers, if any, they authorize their instructions in writing, so their agent knows how to proceed. This is true even if a seller declines sharing the information.

 

If a seller opts to reveal information, the seller’s agent must then share that material with every buyer who is making an offer. If a bid has not yet arrived but is expected, the information will not be disclosed until it arrives. If a verbal submission is received, the buyer will be asked to put it on paper before the competing bid information is shared.

 

A few key caveats, here.

 

One, a seller has the right to change their mind – as long as it’s in writing. If at first a seller wishes not to socialize competing offer information among buyers and decides later that they want to (like, for example, after the bids have arrived), this is perfectly fine. 



Two, no personal information about buyers will ever be shared. 

 

And three, a seller is under no obligation to provide advance notice of which direction they plan to go. This means that buyers in competition will need to be ready for anything.

 

How Can A Buyer Prepare for Open Bidding? 

 

Because a seller can change their mind at any time, it’s best to anticipate that your offer information will be shared regardless of current instructions and plan accordingly.

 

First, consider your limits before offer day. This way, you have time to rationally consider your budget and other important terms beforehand. 

 

If you have competed for a home in the past, you know that offer day can be very stressful. Deciding on your boundaries in advance can help you stay true to the best deal for you as a buyer.

 

Second, consider adding a confidentiality clause to your offer. This type of clause would render your offer void should a seller decide to share the contents of offers.

 

While this would not prevent a seller from sharing the contents of your bid with others, the expected consequences of doing so (i.e. losing you as a buyer) might be an effective deterrent. Depending on how compelling your offer is, this same seller may then decide not to disclose the contents of offers at all.

 

Third, get professional advice. Your REALTOR® is critical to your success; they can guide you on comparable prices of homes in the neighbourhood and educate you on different strategies you can use to negotiate the best deal. 

 

There are many scenarios possible as we enter the world of open bidding. If you have not yet decided who you will be working with on your sale or purchase, get in touch with us today.*** 


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How is the Real Estate Market Right Now?

Gain, MBA Dana


It is the most common question we hear from our clients: what do you see happening in real estate? The best way to explain what’s happening is by analogy.
 
Real estate is a living, breathing entity. It has good moods and bad, high points and low. As things change in the economy, the housing market responds.
 
Over the past nine months we have watched the fluctuations in the market. Home pricing reached its lowest point in January 2023 following multiple interest rate hikes last year, and then pricing began to creep up again. Between January and June of this year, prices climbed steadily in most western suburbs of the GTA and elsewhere.
 
Then, two subsequent interest rate hikes beginning in June had an immediate slowing effect. Within a few weeks of the first hike, the pace picked up again. However, the second hike in July had no measurable effect. It seemed as though the first increase was a shock to the system, but by the time the second rise occurred, home buyers and sellers had already been desensitized and things seemed to continue as normal.
 
Interestingly, the market slowed noticeably alongside the most recent announcement in September that the Bank of Canada rate would remain steady at 5%. This is where we are now. 

Counterintuitive? Maybe. Real? Most definitely.
 
According to TRREB Chief Market Analyst Jason Mercer, “GTA home selling prices remain above the trough experienced early in the first quarter of 2023. However, we did experience a more balanced market in the summer and early fall, with listings increasing noticeably relative to sales. This suggests that some buyers may benefit from more negotiating power, at least in the short term. This could help offset the impact of high borrowing costs.” (TRREB, September 2023).
 
Here's how things look in the market when comparing September 2023 with September 2022.

Detached Homes

 

Looking at detached homes in this selection of western suburbs, we see several different trajectories. Waterdown shows the largest increase year over year, followed by Ancaster. Burlington and Mississauga are basically flat year over year, and Milton, Oakville and Stoney Creek show measurable decreases. 

Waterdown in particular seems to show varying increases depending on which real estate board is providing the data. We noted that in some reports, Waterdown showed only a 9 or 10% increase, while the Toronto Regional Real Estate Board information indicated a 17% jump for the month of September versus last year. Big picture, Waterdown's increase year over year is certainly larger than the other regions.

That said, the data seems to suggest that consumers seeking detached homes have moved their money slightly west of Halton for the moment.


Freehold Townhomes


Freehold towns show a bit more consistency across the regions. The largest increases were found in Waterdown, Mississauga, Stoney Creek, and Burlington, while Milton and Oakville showed a relatively flat trend in average pricing. Ancaster was trending down in this market segment.


Condo Townhomes


Condo townhomes gained favour in some areas when compared to September of last year, while other areas faltered.

Waterdown, Milton, Oakville and Ancaster showed a very nice year over year increase in the average price of condo townhouses, while Stoney Creek, Burlington and Mississauga went the other direction. 


Condo Apartments


As the entry point for many first-time homebuyers, condo apartments will often buck the trend of other housing styles. Comparing average pricing from September 2023 with September 2022, the most striking difference is that any increases were more measured than they were in detached and townhouse properties.

Burlington, Oakville and Mississauga saw slight increases in average pricing year over year in the condo apartment segment, while Milton, Waterdown, Ancaster and Stoney Creek saw decreases.  

Conclusion

Reviewing the data, it's easy to see that the trajectories in average home prices are very dependent on housing style. Depending on what type of home you might be looking to buy or sell, and based on where you live, it's likely you will see things shifting in different directions and by varying degrees.

Is now a good time to buy? Without question. If you are looking to buy a property and you do not have one to sell, it's a great time to scoop up a great deal. If you own your own home now and are thinking about downsizing, the same reasoning applies.

Remember, real estate is all about the long term. Owning your own home and capitalizing on the equity while living there is always a good idea.

If you are considering buying or selling a home and you have not yet decided on a REALTOR®, 
get in touch with us today.***




References:
Toronto Regional Real Estate Board (2023). GTA REALTORS® Release September Stats.

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Housing Market Trends Up Further in April

Dana Gain

Home buyers can once again expect to be dogged by the lack of inventory in the housing market.
  
 We have witnessed a period of relative quiet since last fall, when many home buyers and sellers seemed to take a sabbatical from real estate. Interest rates were on the way up and consumers took the opportunity to pause their buying and selling activities to see what would happen next.
  
 But now, with the succession of interest rate hikes behind us and more house hunters re-entering the market, demand is once again outweighing supply. Buyers are facing competitive offer situations in more and more suburbs as we get deeper into the spring market.
 
 This is putting upward pressure on pricing, and placing home sellers back in the driver’s seat.
  
 Let’s take a look at what happened in home prices between January and April in Oakville, Milton, Burlington, and Mississauga, and what this may mean for home buyers.
  
Detached Homes


All western GTA suburbs showed strong increases in average selling price for detached homes between January and April 2023.

Burlington detached homes were selling for just over $1.32M in January of this year. By April, this had climbed to a more promising $1.48M, an increase of 11% over the 4-month period.
 
 Milton's increase was less impressive than Burlington at just over 6% over the same timeframe. Detached homes selling for $1.31M in January were fetching nearly $1.4M by the end of April.
 
 Oakville detached homes demonstrated a similar trend to Burlington, with a 13% increase in average selling price between January and April. Detached homes selling for $1.79M in January in Oakville had risen to just over $2M by the end of last month.
 
 Mississauga showed the strongest increase in selling price over the same period, 14%. Detached properties in this closer suburb of the GTA selling for $1.38M in January had risen to $1.57M by the end of April.
 
Semi-Detached Homes
 
 Noticeable increases were also seen in the semi-detached segment between January and April of this year.


January's $878,000 average price in Burlington jumped to $1.02M by the end of April 2023, an increase of 16% in average selling price.
 
 Semi-detached homes were also very popular in Milton during this timeframe, moving from $929,000 in January to $1.09M in April, a 17% increase.


Still impressive but lower than the other regions, Oakville's semi-detached market moved from $1.06M in January to $1.19M by the end of April, a 12% increase.
 
 Mississauga's semi-detached popularity grew as well, but more slowly that the other areas. Homes selling in January for $960,000 in Misssissauga were fetching $1.06M by the end of April, a 10% increase in average selling price.


Freehold Townhomes

Moderate increases were seen in average home prices for freehold towns between January and April, 2023.

In Burlington, Oakville and Mississauga, the average price of a freehold townhouse increased between 1 and 3% between January and April of this year.
 
 Burlington's average price increased by $27,000 during the period, Milton's just $5,000, and Mississauga's price increased by just $20,000.
 
 However, Oakville had a strong increase in average price during the same timeframe. While this 29% increase is most certainly an anomaly (eg. extreme high or low numbers at the front or back end of the calculation), it's clear that the price improvement in this very popular suburb is worth noting.
 
 Anecdotally, our clients shopping for freehold towns in Oakville during this period often had a hard time getting in to view a property before it sold. Many sold firm in a matter of 1-4 days, and most often these homes were selling to multiple offers. 
 
Condo Townhouse
 
 Perhaps due to relative affordability of this segment relative to freehold, condo towns showed strong average price increases between January and April.

 Even at the modest end of the scale, these GTA suburbs had healthy increases during this period.
 
 Mississauga condo towns increased from $797,000 in January to $857,000 by the end of April. Oakville and Burlington showed 10% and 11% average price increases, respectively, amounting to an $80,000 sale price increase during the same period. 
 
 Milton showed the highest increase of all in average sale price. Condo towns selling for $670,000 in January had rocketed up to $769,000 by April, a 15% increase in just a few months.
 
Condo Apartment
 
 Most notable about condo apartment sales between January and April was the inconsistent results amongst the suburbs.


Milton saw just a 1% increase, while Mississauga average pricing for condo apartments rose by 5%, and Burlington by a full 11%. At the other end of the scale, Oakville average pricing for this market dropped 25% during the same period.
 
 The same reasoning applies here as in the large increase seen in freehold townhomes. There will be some mitigation to this number, however the downward trend is worth noting nonetheless.
 
What Do The Numbers Mean?
 
 So, what are the implications of rising home prices into the spring of 2023?
 
 First, the market correction we saw in the past 3 quarters of 2022 was not insignificant. In most suburbs of the GTA, home prices fell to 2021 levels or just below. As such, part of the increase in home values being seen now is partly a rebound effect after a less than active fall and winter season. 
 
 Second, the numbers included here from the Toronto Regional Real Estate Board (2023) are average prices within each segment. Some homes sold for less, others sold for more. The point in using average prices is that it allows us to see trends across municipalities, and get a sense of what's happening in the market.
 
 However, even after taking these caveats into consideration it is clear that the housing market is well on its way. The indications are positive, compelling, and mostly consistent across the 4 suburbs.
 
 Anecdotally, in discussions with our clients, the angst that seemed to plague home buyers when interest rates were on the rise has given way to a new consumer acceptance of the status quo. It seems that it was not only the interest rate increase that buyers and sellers found frightening, it was the uncertainty around how long they would continue to rise.
 
If you are considering re-entering the real estate market as a buyer or seller, contact us today. Lower housing prices are drawing more and more buyers back into the market, and sellers don't have nearly as much competition now as they are likely to have in the coming weeks and months.***


References:
Toronto Regional Real Estate Board (2023). GTA REALTORS® Release April Stats.
Toronto Regional Real Estate Board (2023). GTA REALTORS® Release January Stats.

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