Toronto Real Estate Home Sales In May Show Spring Market Is Over
The Toronto Real Estate Pendulum Is Swinging The Other Way Now
Although sales of Toronto houses and condos were healthy in May, they dropped back to pre-2007 levels for the month. The listing inventory hit above 25,000 for the first time since the fall of 2008.
This now offers plenty of choice for buyers – something we haven’t seen for over 18 months here in Toronto.
And… just like we encouraged buyers to jump in between October 2009 and March-April of 2009 (and some of you took our advice and took advantage of the market) because of the higher inventory and some great prices, we’re advocating that you do that again right now!
There are sellers out there who’ve already purchased and who are keen to sell. There won’t be any fire sales but some negotiating can be had.
Watch the Toronto Real Estate Market Report For May video below and learn more about what’s happening in the market and what opportunities await.
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Comments
A healthy recalibration is okay for the market. It should never be absolutely buyers or sellers market. It is good to read that the buyers are getting choices now. Thanks for writing.
Sudip
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