🏀 On March 12th, the NBA announced it was shutting down for at least 30 days. This was the first major sports association announcement.
🚌 Later that day, the Ontario Government announced that all publicly funded schools would be closed for two weeks after March Break.
🚨 On the morning of March 17th, the Ontario Government declared a state of emergency.
📈 The March monthly statistics released last week show increases in Total Sold and Average Price, but that is reflective of the entire month and the extra strong market we experienced to start 2020 – which continued into March.
📊 This Market Update showcases the change in New Listings, Total Sold and Average Price for the last two weeks of March (the initial effects of COVID-19) as compared to the first two weeks of March 2020. It is important to note that the data set for a two-week period only is limited and can be skewed more easily by a non-typical property sale. To provide some additional perspective, we have compared the same two-week period to that of 2019. In almost every community, the average price has increased year-over-year even considering the impact of COVID-19.
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