{"id":2470,"date":"2021-01-06T23:14:58","date_gmt":"2021-01-07T04:14:58","guid":{"rendered":"https:\/\/www.loriv.com\/blog\/?p=2470"},"modified":"2025-10-29T11:39:41","modified_gmt":"2025-10-29T15:39:41","slug":"what-we-can-expect-for-canadian-real-estate-in-2021","status":"publish","type":"post","link":"https:\/\/loriv.com\/blog\/real-estate-market\/what-we-can-expect-for-canadian-real-estate-in-2021\/","title":{"rendered":"What We Can Expect for Canadian Real Estate in 2021"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\"><strong>The COVID-19 Pandemic and Real Estate&nbsp;<\/strong><\/h2>\n\n\n\n<p>It has been reported that prices aren\u2019t expected to plummet in 2021. The COVID-19 pandemic didn\u2019t deviate Canada\u2019s hottest housing markets, the way some experts had predicted.\u00a0<\/p>\n\n\n\n<p>Cities such as Toronto and Vancouver saw some fierce composition for detached home. That meant that there were back-to-back months of record-breaking prices.\u00a0<a href=\"https:\/\/www.ctvnews.ca\/business\/what-to-expect-for-canadian-real-estate-in-2021-1.5236712\" target=\"_blank\" rel=\"noreferrer noopener\">CTV was speaking with some real estate agents<\/a> and experts in Vancouver, Calgary and Toronto to learn more about what we can expect to see in 2021.\u00a0<\/p>\n\n\n\n<p>While most of them expect the 2021 market to look different, they are also expecting prices for mid-range detached homes to only go up as Canadians look for homes offices and for more space, in an effort to make life with COVID-19 more comfortable.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Ultra-Low Interest rates&nbsp;<\/strong><\/h2>\n\n\n\n<p>It was also reported that there were ultra-low interest rates introduced in the early days of the pandemic. Those purchase are more attractive when you have these ultra-low interest rates and it\u2019s also more attractive for first-time home buyers who haven\u2019t seen their livelihoods effected by COVID-19.&nbsp;<\/p>\n\n\n\n<p>\u201cCOVID has made people appreciate the space they live in \u2014 or on the flip side, not appreciate it. They\u2019re taking a more critical eye to where they live.\u201d Says Vancouver based agent Mark Wiens, in early December.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>The State of Condos&nbsp;<\/strong><\/h2>\n\n\n\n<p>There were bidding wars for houses that are poised to heat up in many parts of the country, but condos appear to be a different story. Experts have agreed that the small one-bedroom condos in downtown Toronto have seen a price hit in 2020. <\/p>\n\n\n\n<p>They aren\u2019t expected to improve in 2021 and\u00a0this is bad news for condo owners who are interested in selling, however, it\u2019s good news for\u00a0buyers who are looking for a small space.\u00a0<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>The Small Town Revival&nbsp;<\/strong><\/h2>\n\n\n\n<p>\u201cEveryone locked in their homes discovered they things they wanted to change. Some people wanted to change their homes, invest in a bigger kitchen. Some other people decided \u2018I want a big change and I\u2019m going to move out of the city.\u2019\u201d Says Lauren, CEO of Zoocasa.&nbsp;<\/p>\n\n\n\n<p>People have been reported to be moving out of the downtown Toronto area and seeking out smaller towns and cities throughout southern Ontario. Which has caused a fierce competition for houses.&nbsp;<\/p>\n\n\n\n<p>It was also reported that if the economy continues to revere from COVID-19 shutdowns and the interest rates can remain as low as they are, this could translate to an upward pressure on the housing market.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>The Burlington Real Estate Statistics for December 2020<\/strong><\/h2>\n\n\n\n<p>The Real Estate Association of Hamilton-Burlington reported a total of 913 sales of residential properties in December 2020. In Burlington there was a total of 172 sales, a 59 per cent increase when compared to the previous year.&nbsp;<\/p>\n\n\n\n<p>New listings were reported to be down 47.87 per cent when compared to November 2020 and up 34 per cent over December last year. It\u2019s important to note that the sale of residential properties saw an increase of 1.04 per cent to $729,853. <\/p>\n\n\n\n<p>The average price of a residential home in Burlington was $961,908, a 23 per cent increase when compared to the same time last year.\u00a0<\/p>\n\n\n\n<p>\u201cWe can see that the market has slowed from November, which is normal due to the holiday season, as well as increasing COVID-19 cases throughout the province, and more regions in Ontario placed into lockdown throughout December. Despite being in either the Red Zone (Control) or Grey Zone (Lockdown) throughout December, we do not see the effects on the number of sales and new listings that we did in the spring lockdown. This activity could be the result of continued low interest rates, coupled with increasing consumer confidence due to the approval of the COVID-19 vaccine in Canada.\u201d Says RAHB President Donna Bacher.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Contact Lori VanDinther and Team Today<\/strong><\/h2>\n\n\n\n<p>Please feel free to contact Lori if you have any questions or concerns about COVID-19 protocols. Make sure you&nbsp;<a href=\"https:\/\/www.loriv.com\/contact-lori-vandinther.aspx\">contact Lori VanDinther<\/a>&nbsp;and her team today if you\u2019re interested in buying or selling your home. If you\u2019re interested in learning what your home is worth, try our free&nbsp;<a href=\"https:\/\/www.loriv.com\/home-evaluation.aspx\">home evaluation<\/a>.<\/p>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>The COVID-19 Pandemic and Real Estate&nbsp; It has been reported that prices aren\u2019t expected to plummet in 2021. The COVID-19 pandemic didn\u2019t deviate Canada\u2019s hottest housing markets, the way some experts had predicted.\u00a0 Cities such as Toronto and Vancouver saw some fierce composition for detached home. That meant that there were back-to-back months of record-breaking [&hellip;]<!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":29,"featured_media":2471,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"default","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[56,207],"tags":[82,146],"class_list":["post-2470","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate-market","category-real-estate-trends","tag-canadas-housing-market","tag-lori-vandinther-real-estate"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\r\n<title>2021 Canadian Real Estate<\/title>\r\n<meta name=\"description\" content=\"It has been reported that prices aren\u2019t expected to plummet in 2021. 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