It’s time to face facts. Summer is unofficially over. It blows, just like a cool autumn breeze.
But let’s focus on the positive. 1) TV shows return. 2) Cute boots! 3) Comfy sweaters. (4) The Toronto Fall real estate market heats up.
Yes, Fall, along with Spring, is a big season for home sales in Toronto. The Toronto Fall real estate market usually picks up steam in the second week of September and continues into late November, maybe even early December. While not as long as the Spring market, it typically produces comparable peak prices and above-average inventory.
Like clockwork, Facebook lights up with adorable back-to-school photos – and Realtors see the number of new listings climb from 50 to 500 in a day.
Don’t be fooled by August numbers: That month is traditionally a slow period. For a sample of how things will go in September, look instead at July, when home resales surged 10 per cent from the same month in 2013. Make no mistake, this market is still hot.
So, is Fall 2014 going to be a good time to sell? Yes. The Toronto Real Estate Board says it expects “robust” price increases for the remainder of the year.
But is it going to be a good to buy? Sure is! Interest rates are still at an all-time low, and the bump in inventory means better choices. Forking over half a million dollars – or more – is always a scary proposition (especially when you’re facing credit-card bills full of flights, hotel stays and other memories of summer fun), but rest assured that real estate remains a good investment.
Ready to take the plunge? Contact me at karyn@homesweetkaryn.com or 416-888-1844