Well, Urbaneer predicted we’d soon see the media begin their alarmist woes about the Toronto real estate market. In today’s Globe and Mail Business Section columnist Michael Babad cites BMO’s Nesbitt Burns on the transitioning market and move towards it being a ‘Buyer’s Market’. Especially with respect to condos. Have you heard this before? If you’ve been following our posts at Urbaneer, you know we’ve been advising buyers to be increasingly discerning in what they purchase.
And here was our most recent Tales From The Trenches posted just eight days ago.
Sure, by our accounts demand for condominiums is beginning to wane. Those sellers who are the most aggressive with their price and have qualities not found in the more ubiquitous high-rise towers are garnering offers, so it’s not entirely gloom and doom. And if you own a house, the demand remains strong in the market under $1million.
It’s also important to point out that prices are up 8.5% from last year. So perhaps it’s time to see some rebalancing, as that’s a hefty annual increase doncha think?
Click HERE to read the Toronto Real Estate Board’s news release from which this Globe story has gleaned its information.
Regardless, for the most savvy of buyers there are opportunities to be had. It just requires a little patience seeking out the highly motivated seller on one hand, and having your cheque book in the other ready to negotiate and close the deal.
Do you need guidance? At Urbaneer, we cover both the freehold and condominium markets in all prices ranges across the original City of Toronto. With over 22 years of experience, a sterling reputation, and our fingers on the pulse every waking moment, find peace of mind and assurance letting us guide you one step at a time, without pressure or hassle.
Our motto says it all – Earn Your Trust, Then Your Business –
~ Steven and the Urbaneer team.