Housing Market In Toronto

You want to buy at the best price possible. You want your monthly payments to be as affordable as possible. You want your home to increase in value as much as possible. To make sure all that happens, it is important to look beyond your individual purchase before you buy. You need to look at larger market conditions. What is happening around you (house price trends, mortgage rate movements, new home construction) will have an influence on your purchase. The more you know, the more control you have.

What have similar Toronto properties sold for recently in the immediate area? How long were they on the market? How does this one compare? Is it over-priced, under-priced, or fair value?

By having this information at your fingertips you will be in position to negotiate the best price and take advantage of any opportunities that may show up.

As your real estate sales representatives we have the resources, connections and ability to keep you up-to-date with the constant changes. We know all of the properties currently for sale in your area. Realtors are your best resource for finding the perfect home.

Sellers' Market

In a sellers' market there are more buyers than housing inventory. Because of the limited supply housing prices will generally increase. Besides very few properties for sale, a sellers' market usually also means that properties remain fewer days on the market and that homes typically sell for close to the asking price or even more.

Buyers' Market

In a buyers' market, the number of homes available for sale exceeds the demand, so prices will either stabilize or drop. With fewer buyers and more homes, you not only have more options to choose from, you also have greater negotiating leverage. You have more time to look for the right home and you can evaluate the choices without feeling pressured to act too quickly.

Balanced Market

The only constant in the real estate industry is change. The market is cyclical, dictating advantages for buyers or sellers, and in some cases, neither. This is the case of a balanced market. When this occurs, there is ample housing stock, and there are many people looking to buy, so the give and take balances out. Sellers accept reasonable offers. Homes sell within an acceptable time period.

The Toronto Real Estate Board (TREB), Canadian Real Estate Association (CREA) and four other major real estate boards across Canada have developed a new system to measure and provide clarity on home prices and home price growth: the MLS® Home Price Index (MLS® HPI). See: www.homepriceindex.ca