Is it already time to sell? Is the shift from a Buyer's Market to a Seller's Market happening faster than predicted?
As bizarre as it sounds, things are picking up rapidly here. Anecdotal evidence suggests loads of multiple offers across the city. I was involved with multiple offers in two recent listings which indicates things are definitely changing in the downtown market. Both in condo and freehold sales.
Statistics from E01 (Leslieville, Riverdale) also show a positive trend. January - 28 sold, 3 over asking; February - 39 sold, 6 over; March 14 sold, 3 over and April 16 sold over the asking price. Similar trends are happening rapidly in the west end of the city in the C01 and W1 MLS disticts.
Overall, Metro Toronto February, 09 sales (4,120) and average price ($361,305) are up from sales January, 09 levels of 2,670 and $343,632 respectively. The bad news is both are down from Feb, 08, but may suggest resistance to further declines.
More good news, unlike our American cousins, we’re gaining in confidence with 27% saying they’ll be better off a year from now and 41% saying it’s a good time for a major purchase. The late February Harris-Decima poll said confidence hasn’t been this high since August.
If only this news could sell papers.
How can I help you today?
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b r i a n m a y e r real estate sales representative
Royal LePage Your Community Realty Brokerage
independently owned and operated
187 King St. East Toronto, ON. M5A 1J5
(416)-637-8000
Helping You is What We Do.
A referral remains the highest compliment I can receive.
It's great to hear. That only happens down here in the Miami Beach market on Foreclosures and other "firesale" priced properties. I'm hoping it turns around here soon.
Posted by: Mark , MiamiMetroResidences.com | Thursday, May 14, 2009 at 06:51 PM