Another good month for sales in Toronto, as Toronto Real Estate Board members sold 6,8379 homes, 8.5% more than last August with the average price also being up 4.7% over the same month last year.
With only 21/2 months of homes in inventory in Toronto, by definition, it would appear to be a sellers’ market. It is in many areas, with well-priced homes selling quickly. In other areas, with inventory being at 5-7 months, it’s a buyers’ market.
Today with free access to information, consumers are more aware of market value than ever before. Homes offered for more than 5% over market value are not getting showings or offers. The proof of it is that so far in 2018, homes sold for 98% of listed price in 21 days.
I expect activity to pick up a little as we enter the Fall market, with prices staying relatively stable. A stable market is the best market to buy and sell in!
No one knows for sure what next year will bring, but I expect house prices to increase. The economy continues to be great, low interest rates, high desire for home ownership exists and more immigration into Canada continues.
If you are considering buying or know someone who is, give me a call. Let me put my experience to work for you. I know the good areas, property values, investment opportunities and will help you stickhandle the process to protect your interests.
Give me a call, let’s chat.
Have a great month,
Your Friend in Real Estate.
PS. I am never too busy for your referrals!
Why Choose Peter Kwan of RE/MAX Realtron When Selling Your Home?
Real Estate Professional Peter Kwan has been serving home Sellers and Buyers in Toronto since 1991. He is a consistent Top Producer and has earned many awards throughout his career, including #1 Chinese agent in Canada.
Backed by the power of the RE/MAX network, Peter uses a combination of traditional and high tech tools to market properties to the greatest number of potential buyers worldwide. His website features community and Real Estate information, as well as Listings.
Peter is fluent in English, Cantonese and Mandarin. His aggressive and unique marketing plan gives all his clients' homes extraordinary exposure. SOLD FAST, and gets TOP DOLLAR! His success has been due to personal approach and integrity * dedicated service to his clients and the industry.
Peter is tireless in his efforts to serve his clients. He understands the needs of a family. By exceeding the expectations of his clients, Peter has earned their referrals and repeat business. He has the skills, knowledge and experience to achieve your Real Estate Goals.
Why Peter Kwan? Because…He specialize in you!
Peter Sold 1 Home Ever 2-3 Days since 2006.
Most of Peter's listings sold record breaking over asking price were without ineffective open houses, staging & even no For Sale sign on the property. Peter is very happy and appreciated if the owner allow him to install an overasking sign after Sold.
Peter is so confident that if owner found any real estate agent sold more properties in Ontario than Peter Kwan within the past 26 years, Peter is willing to match their commission plus a free air ride with Peter Kwan (Pilot in Command) on his private airplane.
No Free Lunch! Peter invests close to $1 Million every year just to Advertise!