03/17/2022
🔔👂Have you heard❔
We have been observing some subtle changes in our HOT🔥 housing market here in the GTA over the last few weeks.
💰🏡We DO still remain in a sellers market, based on inventory levels in most parts =
📌 Toronto’s Regional Real Estate Boards average months of inventory for February 2022 ended at 0.9 months (so we’d sell out for the whole GTA in 1 month)
📌King, located in YORK Region is sitting at 2 months of inventory
📌In the 416, the TORONTO C02 and C12 neighbourhoods had a few months of inventory (2 & 3 months respectively)
📌The rest of the GTA sits at around 1 month, based on end of February stats
SO, this means it’s still tight conditions BUT
I said there was a shift so lets 👀look at what I’ve been noticing➖
▪️fewer offers registered on offer nights
▪️homes that do sell on offer night still are getting strong prices, but it’s just not a guarantee anymore the home will sell b/c an offer night is held
▪️price changes and relists!! You may have noticed this from my emails, Realtor.ca …HouseSigma, Zolo, ☺️whatever you use to see listings! MOST times it’s being re-listed at a higher price, but I’ve noticed prices being lowered and a different strategy used too 🧐 if you’re curious when you see this kind of thing; send me the address and I’ll break it down for you!
▪️more homes forgoing the offer night and accepting offers "anytime”
▪️listings seeing less showings as active buyers (and investors) have more listings to select from
▪️buyers are overwhelmed and tired (personal observation😅)
❓What does this mean for YOU? Well it’s the kind of information you MUST know to make the best decisions for your real estate goals because it is TIMELY. If you want top dollar as a seller, or to pay the least you can as a buyer than you need to understand the pulse of the market at that specific time ⏰
Send me a DM to chat more about this, and make sure to SHARE with anyone you know wanting to make some moves in the market 🔑🔑🔑