Well, who would've thought? July 2009 was a record setting month for sales in the GTA. In less than 1 year, the market has completely bounced back from one of the worst recessions it's seen to the best summer month in history.
This was due largely in part to the interest rates and rumours of a recovering economy. Overall though, this is a sign of consumer confidence, which rules all markets. For Sellers, you are currently in the hotseat as there is a huge demand for properties and limited homes on the market. Bidding wars abound and many homes are fetching $50-$100K over the asking price! Don't despair Buyers! Come fall (a few weeks from now) you will see more and more properties on the market in what is traditionally a peak period for homes being listed in the GTA.
Things will soon balance out and we we can again see happy Sellers and Buyers participating in a great Toronto Real Estate year.
No comments:
Post a Comment