2023 Market Report

It’s a new year and a time for fresh perspectives as we forge on into 2023! 

Whether you listen to the radio, watch the news or pick up a newspaper, you are bound to be met by exaggerated tales of woe. There is no question that we are facing some economic challenges at the moment, but the media fails to acknowledge that there is always opportunity in every market! The Penzo Team makes it our mission to discover and unveil those opportunities for our clients, regardless of the current economic climate. 

As we examine things as they stand, two major opportunities, in particular, stand out to us…

1. Opportunities for First-Time Home Buyers

Due to the lower average sale price, first-time home buyers can purchase in desirable areas that might have been out of reach under previous circumstances. Alternatively, together with our design and build partners at Urban Blueprint, we can help guide you through the process of finding a home to renovate. 

2. Opportunities for Real Estate Investors

With an influx of newcomers to our country, high borrowing costs, and low inventory, rental homes are high in demand. Investors can take advantage of the current market and add to their portfolios with highly sought-after rental properties at favourable prices, while rental prices continue to climb.


For those who wish to buy and sell, it’s all relative! The key to real estate success is to purchase and sell in the same market conditions.

As we glance ahead, we are looking forward to seeing what the second quarter brings and exploring new opportunities in proposed condo developments throughout the city. 

 If you have questions and wish to explore your options, call us anytime for a confidential conversation at 416-417-4009.