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If you have been watching the Toronto real estate market lately, you know that demand for homes is off the charts. We're currently at a 52% market absorption rate, which means we have low inventory.
So today we want to give you 3 reasons why the next 60 days is critical if you plan to sell your Toronto home:
So today we want to give you 3 reasons why the next 60 days is critical if you plan to sell your Toronto home:
- Demand:
- We have a very low inventory and the demand for new homes is enormous. House prices are going up at an average of 10% a year, but that rate can't be maintained forever. It's better to take advantage of the record prices at the rate they are going for currently.
- Less Competition:
- For now, that is. As we move deeper into the summer months, more and more homeowners will be putting their houses on the market. It's important to act soon if you are thinking about putting your home on the market. Right now we have a very low inventory so buyers are going to continue to fight over homes that show well. This will mean better offers for you, possibly even multiple offers.
- Great time to Move Up:
- There has never been a better time to move up from your current home into a better one. Homes are appreciating at a 4% rate this year and I predict them to be near 8% by the end of 2015. As interest rates and prices go up, your buying power goes down. If you want to move up to a larger, more expensive home, now is the time. The truth is nobody can really predict what the housing market will do in the future. All we can do is tell you that we are sure now is a great time to make a move.
If you have any questions about the Toronto real estate market or want to learn more about your options, please give us a call or email us today. We'd love to help you.
