30 Mar What is the current state of Toronto’s real estate market?
With the change in mortgage rules and some speculation over the impact of the BC foreign buyers tax, the real estate market has been moving quickly since the beginning of November. Toronto’s February 2017 sales are up 5.7% though we have fewer new listings. This is great news for sellers with the lack of inventory meaning high levels of competition for buyers. Not to worry there are still opportunities for buyer, now more than ever it’ s important to plan and search very strategically.
Last night, my clients won their first offer – and by that I mean they won the first property we offered on which is extremely rare right now. I’m sure everyone has heard a story about a friend’s friend who has put in 6 or 7 offers on properties with no luck. It goes to show that with the right planning and organization things can be easy and fun!
Whether you are buying or selling it’s best to start researching well in advance of when you want to move. I’m happy to take you through and provide information about the process. Reach me here and I’ll be able to help with everything from a complimentary valuation to general questions about each neighborhood. I’m looking forward to hearing from you, in the mean time here are Toronto’s latest stats for key central areas.