Toronto Real Estate Prices Drop After Cooling Period

From the first of the year to now, real estate brokers, buyers, and sellers have had a tough time with locking down properties, getting listings up, and encouraging people to sign the dotted line. This summer, in particular, was a little slow and it’s been a bit of a struggle for those in the real estate industry to suffer through the cooling period.

Fortunately, as the Fall and Winter seasons come crawling into the Toronto area, it seems the housing market is finally starting heat up as the weather gets chilly. It’s an exciting time for those trying to either buy or sell and if you’re wanting to get into the game while it’s hot, here’s a look at the state of Toronto real estate as of right now in 2017. 

Getting Closer to Market Value 

One thing that buyers can look forward to is asking prices getting closer to the overall market value in the Toronto area. Given how hard some sellers were hit by the cool off, what you will start seeing is asking prices steadily drop in an attempt to get buyers back on board. Sellers are going to want to start moving properties as soon as possible, so get out there buyers! 

Hot neighborhoods such as Riverdale have quite a few listings up right now for those looking to get into a really artsy, culturally diverse part of Toronto. So, if you need a place to call home that has a little bit of everything for you and your family, Riverdale homes surely won’t disappoint.

More Sellers Selling

Although many sellers are having to slash their asking prices a bit, there are still many opportunities in the market right now for those trying to move their properties. Sure, there will be a bit more of a negotiation involved to get people to commit, but interest is peaking, especially in places such as Bayview and Leslieville. 

Bayview homes and Leslieville homes are some of the most beautiful and unique in Toronto, and the accompanying neighborhoods offer homeowners access to recreation, fine dining, and countless other bits of local flavor. So, don’t miss out on a visit to these locales! 

Buyers Coming Out of the Woodwork 

With decreased prices come increased buyers. So, if you’re holding out on a property, now is your time to get your house listed and ready for sale. Buyers are going to be coming out of the woodwork from now until the end of the year, so it’s important you find the right agent and get ready to sell, sell, sell! 

Ultimately, whether you’re a buyer or a seller, Toronto real estate is 2017 is finally starting to turn around be profitable again. So, if you’re looking to buy, definitely get out there and check out the listings available in some of the best neighborhoods Canada has to offer. And if you’re looking to sell, get ready to start making appointments, because the floodgates are soon to be open.



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