Where To Buy and Sell in Greater Toronto This Week
If nothing else, the Real Estate market in December is unpredictable. The end of year is usually a great time to pick up a bargain, but as market conditions continue to favour Sellers year after year, it seems as though there is no off season in Real Estate. Toronto home Buyers are realizing that finding your “dream home” in a desirable neighbourhood requires every advantage possible. Whether it be going out to see homes despite a huge snow fall or making time in the holiday season to see a few new listings, savvy buyers have to look at the market from all angles. December. Buyers should take advantage of lingering listings. Sellers are likely thinking of taking their property off the market and re-listing at a different time of year, but will be tempted by an offer that allows them to avoid that hassle.
Selling your home in December is not a strategy I execute frequently with clients, but sometimes it makes sense. Despite how many buyers say they anticipate being active over the holidays, December is a busy month and home buying tends to settle to the bottom of the priority list as travel, shopping, visiting family, and indulging in spiked eggnog rise to the top. That said, there are some areas of the city that are already depleted of inventory and your Realtor shouldn’t rule out the idea of listing in December, or rush to pull a listing that has yet to sell. Check out this week’s feature of where to buy and sell to determine if and where you should be buying and selling over the holidays.
Where to BUY in Toronto This Week: The popular Central Toronto neighbourhood of Mount Pleasant saw a spike in interest for all types of inventory in the spring of 2014, and was seeing multiple offers on all property types including desirable condos. While the area remains of great interest to home buyers we have seen an increase in the number of listings making it a great time to purchase in this sought after neighbourhood.
Why This Week: Inventory in Mount Pleasant district has increased by 2% from a month ago, while the city as whole has seen listings decrease 18%. Listings are also up significantly from the end of 2013: currently Mount Pleasant makes up 2% of Toronto’s active listings, while at the end of 2013 it only accounted for 1.1% of active listings. This is resulting in more choice for condo buyers in the area.
Where to BUY in the GTA This Week: Looking for a slice of the suburbs? Consider looking east way east for favourable buying conditions in Clarington this week.
Why This Week: While inventory in the rest of the GTA has decreased by 21% from a month ago, inventory in Clarington has only gone down 7% and has increased by over 40% from around the same time last year. The higher than normal inventory in December will shift market conditions in the Buyers favour giving them more choice and negotiating room when shopping for their desired property.
What you will find: Check out what homes Clarington has to offer here
Where to SELL In Toronto This Week: December could be a great month for home sellers in Clairlea/Wexford/Dorset Park area of Scarborough.
Why This Week: Active listings are down almost 35% from a month ago (17% more than the city as a whole) and have decreased by 12% from the same time last year. The lack of listings in many areas of Scarborough are making for favourable conditions for Sellers, despite the fast approaching holiday season.
Where to SELL in the GTA This Week: The holiday season may prove to be a festive time of year for Caledon home Sellers, don’t pull that listing just yet!
Why This Week: Active listings are down 29% from this time in November and 6% from the end of 2013. Less inventory could be the push needed to get Sellers their desired price.