Leading up to Premier Doug Ford’s declaration of a state of emergency in Ontario on Tuesday, March 17, the spring housing market looked like it was positioned towards a peak.
Residential sales reported on the local Multiple Listing Service (MLS®) were headed way up in March of this year compared to the same time a year ago.
A sharp decline in sales, however, was noticed starting the week of the announcement of a provincial state of emergency.
The same is true for the number of residential listings on the local real estate market.
During this period of uncertainty, these numbers illustrate that a call for physical distancing means far fewer people will be opening up their homes to potential buyers.
We appreciate that there will be circumstances where there is an urgent need to buy or sell like the family who recently got a job transfer, already purchased another home in their new community, but now must sell their local house.
There are some who find themselves in urgent need of housing, or who must find a way to sell their property.
We are committed to continuing our services throughout this crisis; however, we understand the importance of the government’s declaration of a state of emergency. We will operate with the same public health agency protocols that other essential services are being asked to comply with.
During this time of uncertainty we will make use of technology like video conference calls, high resolution photos, virtual tours, colour floor plans, and the use of electronic signatures to complete those transactions remotely to support social distancing.
We want to assure you that we will keep the dialogue open to answer all questions, now and always.