TORONTO, ON / ACCESSWIRE / February 18, 2021 / Successful Toronto real estate broker Michelle Kam was recently featured in an article on Realty Times. She shared insights on some of the major trends in the Toronto real estate market in 2020 and provided her assessment for the future of the market.
In the article, Kam explained that the COVID-19 pandemic resulted in some minor hiccups for one of Canada's largest housing markets. However, many areas of the real estate market rebounded quickly.
The first Toronto real estate trend Michelle Kam identified is that activity across the board was high, even during the holiday season. Many first-time buyers found 2020 to be a great time to buy their first home, which resulted in several bidding wars, especially outside the downtown core. But even within the city of Toronto, sales in December 2020 outpaced those in December 2019, indicating significant growth to come.
The second real estate trend highlighted in the article is that although the Toronto condo market cooled down in 2020, it is poised for a significant rebound.
"While many people held off buying a unit amongst the uncertainty of the economy, modest growth is expected for Toronto condo prices, mostly in the latter part of 2021," said Michelle Kam.
The third and final trend that Kam discussed in the article is that more homeowners invested in renovations in 2020. Ontario saw a major upswing in the number of permits issued for home renovations, indicating that people who already owned a property pre-pandemic made the decision to upgrade their homes. Kam believes that this trend will serve to increase the value of many homes in Toronto and the broader GTA, which in turn will affect the housing market in the years to come.
Finally, Michelle Kam offered her prediction on the future of Toronto real estate. She said that 2021 will be a potentially challenging, but also a very interesting year for the real estate market in Ontario, one that she believes will be dominated by condos rebounding, low mortgage rates, and increased competition.
For more information, visit https://michelle-kam.com/.
About Michelle Kam
With more than 15 years of experience, Michelle Kam is a seasoned real estate agent and broker. After graduating with honours from York University, she started working with Re/Max and specialized in high-end, million-dollar properties in the resale market. With a passion for working in the urban market with a focus on condos, loft, and townhomes, she began to develop a niche for herself in high volume sales, learning the ins and outs of the pre-sale market. After building a large and loyal client base, Michelle opened her own brokerage. In June 2016, after owning and running City Accord Realty Inc., Brokerage for more than 10 years, Michelle Kam was fortunate enough to come across Jamie Johnston, owner of Re/Max Condos Plus, and decided to jump onto the Re/Max brand.
Contact:
Michelle Kam
Broker of Record
Re/Max City Accord Realty Inc., Brokerage
Office: 416-883-0892
Fax: 416-883-0894
17 Capreol Crt
Toronto, ON M5V 3Z6
http://www.michelle-kam.com
SOURCE: Michelle Kam
View source version on accesswire.com:
https://www.accesswire.com/630617/CORRECTION-Successful-Toronto-Real-Estate-Broker-Michelle-Kam-Featured-in-Realty-Times
