Oshawa Ranked #1 in Ontario for Population Growth In 2020
Posted Jan 29th 2021
In Canada, the city of Oshawa currently leads the country for population growth, and this has impacted the real estate market in this area significantly. Agents are seeing a lot of competition when it comes to buying a home and are receiving more offers than ever before.
In the past, receiving one or two offers in the first week of listing a home was considered the norm; however, agents are now working with multiple offers in the first couple of days. One of our brokers, Paul Baird, can confirm this fact as our office just recently received 39 offers for a townhouse listed not too long ago. This may sound like an exception, but that is not the case because the Oshawa real estate market is hot, thanks to its growing population.
It used to take a long time to sell a house, but that is no longer the case because of the increase in demand. The reality is that there is too much demand and not enough supply as a result of a growing population. This has created a lot of competition, and potential buyers are coming in with their best offers to secure the house. People want to live in the city of Oshawa and want to raise their families in the area, so fewer people are moving away, and demand is only increasing.
Real estate agents are doing their best to help clients find their dream home, but with such a high demand and not enough homes on the market, this can sometimes be difficult to do. A growing population is great because it means the city is booming and is very desirable, so this creates a lot of competition, which is what the city of Oshawa is currently experiencing.
Gone are the days when investors would buy multiple properties at once as the profile of home buyers has changed drastically over the years. Real estate agents are seeing that most people who are interested in the market are people who are trying to buy their first house. These are hard-working individuals who are ready to invest in a home, and Oshawa is a hot market to get into. The city has experienced a 2.1% growth rate, according to Statistics Canada, and is the community with the highest population growth in all of Canada.
If you’re looking for your dream home and want to live in Oshawa, The Baird Team can help! We have been in this industry for a very long time, and our real estate agents are familiar with the process. We will provide you with all of the information you need and will guide you through the process of buying or selling a home. We have access to every listing in Oshawa and Clarington, so whether you are interested in houses, condos, or townhouses that are for sale, we can help. If you want to work with the top realtors who have their clients’ best interests at heart, give us a call today!