Should you list low and generate multiple offers, or should you list the property at what you think its worth? That seems to be a popular question in the office this week. There are many factors to take into consideration. The location, the condition of the property, and the price point. When you look at new listings coming out at least eight out of 10 properties have an offer date. What we are not seeing as much these days are bully offers. Buyers seem to be a bit cautious and would rather wait. After much discussion it comes down to the agent and the Seller making the decision.
There was a big sigh of relief as more listings came to market across the 416. The downtown core saw freehold listings jump by 60 percent compared to the week before and..... Read More
The media likes to sell sob-stories to survive. The TREB market report was released this week and the news release in the media was all doom and gloom. Well not so in the City of Toronto. The average selling price at the end of January was $766,616, up 5.5 percent from a year ago which was $727, 928. The number of new listings came in at 2,776 for the end of January slightly lower than a year ago at .... Read More
Happy New Year ...... So the year begins. Let's sum up the market for 2017.
• GTA realtors reported 92,394 sales through Treb's MLS- down 18.3 percent compared to (113,133) the record set in 2016
• Record sales in Ql were followed by a decline in Q2 and Q3 after the Ontario Fair Housing Plan was announced.
• The average selling price for 2017 was $822,681- up 12.7 percent compared to 2016.
• The "stress" test was introduced in October causing a rush Read More
HO HO HO here come the holidays! Santa Clause is coming to town. The annual parade comes to town on Sunday and has been a staple in Toronto for 113 years keeping the tradition alive. Does that mean we are winding down and getting ready for Christmas? It doesn’t seem that way with a swell of new listings hitting the market in the early part of November compared with this time last year. Could this be a sign that sellers are hustling to list before the new “stress test” rules surrounding mortgages come into effect on January 1st.
Last week the freehold market saw 222 new listings in the central core hit the market up 35% from the week before with the east end doubling their new listings from 38 to Read More
In the freehold market the number of new listings and sales both showed continued declines after seeing numbers rise through the first two weeks of October. Listings were down 7% over the previous week to 166 from 180 but are down a significant 30% since the mid-month high of 237. Sales declined 30% over the previous week from 136 to 93 and the percentage of homes that sold above their advertised price was 46%, down 12% from the previous week........ Read More