A UNIQUE 14 DAY PERIOD EXISTS RIGHT NOW, WHEN HOUSES TYPICALLY GET 5-8% MORE THAN MARKET PRICE!
In my 30 of years of Real Estate I have never seen a market quite like this in Toronto, with such low inventory, historically low rates and so many Buyers competing for so few homes.
A couple of days ago, a bungalow on my street listed for $1,179,000 and sold for $1,318,000 with 9 offers competing!!! A record price in our area!!!
How can you take advantage of this unique situation? If you are thinking of selling, it is critical to know that right now there is a 14-day window to get an extra 5-8% above fair market value… due to this short-term, low inventory crisis.
This is because, the “spring market” when it comes to real estate has already begun and before all the other homeowners start listing their homes over the next couple of weeks, you can get a jump start and take advantage of the low inventory that exists right now.
With so few properties on the market, sellers are able to dictate really favourable terms for themselves, including a really long closing date. This will give them plenty of time to find their dream home, as listing inventory levels increase.
Traditionally, at this time of the year, people start to think about moving. I don’t know if it’s just a “Spring thing” or a truly psychological event that causes people to view Springtime as a time of change and renewal. Most definitely, we will see a lot more inventory coming on to the market in March and April.
So, take advantage of this unique 14-day window that will allow you to get an extra 5-8% for your home. Listing now will allow you to “Sell high, Buy Low” – get a late May , June closing, and then buy your next home in the upcoming high-inventory months of Real Estate where upward pressure on price won’t be as strong.
I hope this helps…and I appreciate your feedback . Contact me directly at: bitton@torontorealestate4u.com or 416-801-8600
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