Now that the real estate market is back from the summer we’re reflecting on how busy it remained deep into the summer months. This was due mainly to the delayed onset of available inventory – in fact our busiest week for new listings and deals done was in the middle of July!
The market remains strong while inventory is coming out at a steady pace, making things a bit more balanced for buyers. That being said, the plethora of selection compared to the ’empty shelves’ of the spring is also leading to some buyers holding off and waiting to see what else comes out.
Sellers are still seeing the highs from the summer but we do warn to not get greedy and overprice. There is also more competition for your home if your selling and if you aren’t still priced competitively, buyers will move on to something that is.
The average price of a detached home in Toronto hit $1,107,652 while semi-detached homes averaged $662,968.
For the full Toronto Real Estate Board Market Watch, click here.
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