It is almost unbelievable the difference just a few weeks can make in Toronto’s Real Estate Market. We saw incredible marketplace activity in the first two weeks of March. In fact, March was shaping up to be a month for the record books right up until the reality of just how severe the COVID-19 threat was. It was around the middle of the month when social distancing requirements became mandated by the Province and the City. This resulted in an almost immediate loss of marketplace momentum.
To interpret COVID-19’s impact on March’s statistics, one must compare the data of the first half of the month against that of the latter half. This is the information that we have decided to focus our Infographics on this month. It presents a true picture of the impact of COVID-19 in March.
We have no doubt that once this threat has passed Toronto’s Real Estate market will bounce back. However, for the time being, we are encouraging our agents and clients to follow the directives from the different levels of Government. Please respect calls for social distancing by staying home and staying safe so we all can get through this as quickly as possible and not put any undue pressure on our healthcare system.