Welcome to my inaugural “Market Update” post. I would like to share with my clients and visitors to my website some of what is going on in the Toronto Real Estate market. Some of the information is not for everyone, but all of this is very useful in making an informed decision to buy or sell a home. I hope you enjoy
Sales are still very steady at 4,490 so far this month (we should hit 8,500 to 9,000 for June) and the number of homes for sale has only risen marginally to 25,613 from 25,117 2 weeks ago. I’ll predict the sales will continue at a pace close to this throughout the summer and we will likely see only a slight increase in the number of homes for sale through to the end of August. We will most likely see a spike in the inventory numbers in the September.
So here’s the “short and sweet” on what’s going on. It’s a great time to buy a property as we have come out of most of the silliness of early on in the year. There are more choices for buyers now and the listings aren’t disappearing overnight. As a seller, there are advantages to selling now vs. the fall as there are still a good number of buyers out there this summer, and there will be likely more competition for those buyers in the fall when the inventory numbers jump.
The market conditions mean different things to different people. The key is getting the right advice. It’s more critical now than it has ever been. That’s where I come in. If you hear of anyone who needs my help, call me with their information or give them my number. I’ll work hard for them, navigate them through these market conditions and give them the “red carpet” treatment!