What is really happening in the Toronto Real Estate market…from the street!

iStock_000003251032XSmallEvery year around this time the stories in the Media are the same….the market is down, the sky is falling, the bubble has finally burst!

It was the topic of discussion in our office meeting this morning and, most of us were wondering about which City they were talking about. We work in the center of the largest City in Canada, a center for finance and business where there has been a consistent lack of product, especially in single family houses.

Yes, the activity is slower because there is very little for sale. The weather has been cold and most sellers would rather list when the “Flowers and For Sales” signs start to pop out.

Yes, the prices are up because any house that is well priced has sold with multiple offers and the activity in our offices is huge. A lot of agents are sitting down, night after night and they and their clients are disappointed.

Yes, the weather will change and after Easter there will be lots more product which will ease the market somewhat.

So, stop reading the Media and talk to your local Real Estate agent and especially their appointment desks and deal secretaries…no matter what the Media says, it is very busy out there and if you look at the Toronto real Estate Board Charts, you will realize that this pattern repeats itself…

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