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Sutton Quantum Qupdates - JUNE 2023

Updated: Jun 16, 2023


IMPORTANT REMINDER


July 1st, SQ paperwork submission through TransactionDesk will become mandatory.


Visit https://www.sqcentral.ca/transactiondesk for an overview as well as job aids.

If you have any questions please reach out to info@suttonquantum.com.



Mortgage Update:

As many of us are aware, the Bank of Canada increased its target for the overnight rate to 4.75% on June 7th. This increase was widely expected by economists and forecasters, as the Bank highlighted their goals to balance supply & demand and return inflation sustainability to their 2% target. Majority of clients with a variable rate would have seen an increase to their rate/mortgage payments, as Prime Rate increased from 6.70% to 6.95%

We are continuing to recommend shorter fixed term solutions to clients in the 1-3 year range. We have also seen an increase in the use of Credit Union partners, given their ability to qualify an application at contract rate, effectively avoiding the stress test. Credit Unions are still offering competitive rates that remain in line with majority of other financial institutions. Feel free to reach out if you have an application you would like to discuss in more detail or simply obtain a second opinion.


Tyler Lipinski, Mortgage Agent Level 2 | 647.868.1427 | tyler@vinegroup.ca


SQ'S MAY TOP 10s

​TOP NUMBER OF

UNITS SOLD

TOP $ GROSS

VOLUME SALES

Chile Paul

Rosemarie Wallace

Rosemarie Wallace

Ghassan Saeed

Adrienne Mendes Da Costa

Chile Paul

Ghassan Saeed

Lauren Zylik

Randy Bergie

Randy Bergie

The Parsons Group

Heather Bartlett

Deepika Gupta

The Parsons Group

Heather Bartlett

Zezza Collia Realty

Rahul Malik

Kate Czaplinska

Marilyn Duarte

Sanaa Hasbani

Congratulations on making the Top 10 for

Sutton Quantum during the month of May!


Disclaimer: The above Top 10 information is internal data distributed to Sutton Quantum Agents only.

Please do not disclose the names of Sutton Quantum agents or their place on any Top Ten lists to outside agents, clients or on any public forum.

MARKET WATCH

AVERAGE PRICE COMPARISON


MISSISSAUGA DETACHED HOMES


Month to Month Comparison:


May Average Price

$1,620,829


vs


April Average Price

$1,567,031

MISSISSAUGA CONDO/APARTMENT


Month to Month Comparison:

May Average Price

$635,856

vs


April Average Price

$655,660

 
OAKVILLE DETACHED HOMES


Month to Month Comparison:

May Average Price

$2,079,084


vs


April Average Price

$2,023,532

OAKVILLE CONDO/APARTMENT


Month to Month Comparison:

May Average Price

$798,507


vs


April Average Price

$736,516

MARKET WATCH OVERVIEW


TORONTO, ONTARIO, May 3, 2023 – The Greater Toronto Area (GTA) housing market continued to tighten in April 2023. On a year-over-year basis, sales edged lower compared to April 2022, but new listings were down by more than one-third. Fewer listings relative to sales meant there was more competition between buyers, supporting an improvement in selling prices since the beginning of this year.


“In line with TRREB’s outlook and recent consumer polling results, we are seeing a gradual improvement in sales and average selling price. Many buyers have come to terms with higher borrowing costs and are taking advantage of lower selling prices compared to this time last year. The issue moving forward will not be the demand for ownership housing, but rather the ability to meet this demand with adequate supply. This is a policy issue that requires sustained effort from all levels of government,” said TRREB President Paul Baron.



Download Market Watch Reports

​TREB

Market Watch


TRREB_mw2305
.pdf
Download PDF • 1.90MB

​OMDREB

Market Watch


Market-Watch-Oakville-May-2023
.pdf
Download PDF • 152KB

​RAHB

Market Watch


RAHB_may-2023
.pdf
Download PDF • 988KB


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