September marked yet another month of record transactions and price growth in the Toronto market. Spurred on by the fear of what's next for the economy & the drive for change, Sellers moved from the sidelines to the front-lines.
Low-interest rates, work-from-home, and a mass exodus for the suburbs pretty much sum up the frenzy of the last 4 months in real estate.
Don't be fooled by the stats, it's not all roses for everyone in Toronto Real Estate. The downtown Toronto condo market is hurting, with a surge of listings (particularly smaller units) that are just not being met with demand. Condo owners looking to move-up, move-out, or off-load their investment need to carefully assess their options and strategy. If you have ever considered buying into the market for a son/daughter/mother/father, now might be the time.
Many sellers of single-family homes (detached & semi's) are being required to modify their expectations, and adjust their plans as inventory levels in the city climb.
If you're a homeowner considering selling, you might be wondering how this affects you? Well, it depends, the right location, house, and pricing strategy is still fetching top dollar in record time.
And Buyers, if you have a secure job, you're in a rental or have an asset to re-finance, this might be your time.
Timing the market isn't an exact science at the best of times, a house is more than just an asset, it's your home, where you want to live, build roots, and make connections. If you're considering a move and are afraid of what's next or what if, reach out to us, we would be happy to explore some options with you.