Toronto Real Estate Market Watch – 9/17
Back to school and back to normal?
Well, we said let’s wait and see what the fall holds. Despite the most recent numbers from the Toronto Real Estate Board for August being relatively mild – keep in mind, August is always slow. Add to the mix the ‘wait and see’ mentality that has pervaded the past six months and it’s not surprising to see those numbers.
That being said, it feels like that cloud is lifting. Action on listings is way up – our listing at 77 Coady had 65 showings in one week!!
We’re seeing multiple offers again…not crazy numbers like 5+ competing offers but a nice handful of offers on great homes.
Remember when we were telling buyers to take advantage of the quiet summer and listings that had been sitting on the market for a while before the rush of fall comes back into play? (This is the part where we try really hard not to say ‘I told you so’ – it’s really, really hard but we’re not going to say it 🙂
We’re even seeing homes in the luxury market price points selling which typically sit when things are soft. Not only that, homes are selling close to list.It feels like a great balanced pace all around – buyers still aren’t feeling massive pressure and values are in a great range right now.
We’ll keep a close eye on activity and the numbers but as the old adage says, “Don’t wait to buy real estate, buy real estate and wait.” Historically it’s still a solid investment and no other tax shelter is better than your principal residence.
For the full Toronto Real Estate Board Market Watch, click here.