I get this questions a lot, “How’s the market doing?” and I thought it would be a great topic to chat about. I’ve included below a copy of the market stats for Toronto Real Estate where you can see what the current market reality is. I’ve been telling everyone that we have a strong shortage of new listings coming in the market and anything that is there is selling like hot cakes and a lot of times over asking price.
What does this mean to you?
If you are a seller that is looking to sell, its prudent for you to buy your next property first. This way you can ensure that you will be able to move into a house that is a good fit for you. Since there is more demand, pricing your house right will almost guarantee a sale and you will be able to get terms that are favorable to make sure you can match your closing dates with little to no disruptions other than what a moving offers.
If you’re a buyer, don’t stay on the sidelines. There are still deals that come out and you can take advantage of! I helped a client purchase a property last week where they were expecting multiple offers for the property but only our offer was present when we were at the office. We were able to negotiate a very healthy purchase price for the buyer and even got some of our conditions through as well.
Since the market is hot, properties tend to move quickly. If you’re planning on selling soon, I just started a new service where you can be notified as soon as a property gets listed in your neighborhood so you can stay up to date with what’s happening to prices there.
Also, if you would like to find out the value of your home, please feel free to reach out to me.