The Toronto Real Estate Market Today

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Many sellers repeatedly ask, "Is now a good time to sell?" Many people think homes don't sell as often in the fall. With the time change, it gets darker earlier and the weather gets colder. However, now is a great time to sell, but don't just take it from me. Let the data show you.

Last year, there were 8,500 sales during the month of October in the GTA. The average sales price was $578K. In November, there were 6,476 sales. In December, we saw 4,400 sales. Those numbers are expected to increase this year. We're projecting as many as 12,000 home sales in the next 60 days across the greater Toronto area!

Many people assume more homes sell in the spring because the market is more active. However, historically speaking, November home sales actually equal home sales in March. In our market, many want to buy or sell in November, so they can move in before the end of the year.

Buyers this time of year want to close before January 1st either due to business or tax reasons. They also might want to move into the home in time to celebrate the holidays. Buyers this time of year are serious. Because there are fewer homes on the market, you have less competition.

As you can see, the next couple of months will be great for sellers in Toronto. Low inventory, high demand, and past market trends indicate now is a fantastic time to list your home. If you have any questions, give us a call or send us an email. We look forward to hearing from you!