What’s Really Happening in the Market
If you read the headlines, you’d think the housing market has completely slowed down compared to last year. And yes, the statistics do show prices are down year-over-year.
But on the ground, the story is more nuanced.
In fact, we’re still seeing plenty of multiple offers.
Earlier this week I showed a stunning newly built detached home in Leaside, 4 bedrooms and 6 bathrooms, listed for $3.389M. Within just four days of hitting the market, four offers had already been registered. The sellers were accepting offers anytime, and despite the price point (clearly not a first-time buyer property), demand was strong.
At the other end of the market, we recently helped clients purchase a 3-bedroom semi-detached home near Danforth & Victoria Park that had been listed for $799,000. Before offer night, we arranged both a home inspection and termite inspection so our buyers could submit a clean offer.
We also included a letter and photo from our clients to share with the seller. Real estate may feel transactional at times, but there’s still a human element to it. Establishing a connection can sometimes make a difference.
There were four offers competing for the home. And I’m happy to report our clients came out on top, securing the property for $865,000.
On the flip side, many sellers today are facing a different reality. Some homes are selling for similar prices, or even less, than what owners originally paid.
That created an opportunity for another one of our clients this week. We helped them purchase a 3-bedroom semi-detached home in Midtown listed for $1.399M. The sellers had paid $1.3M for the property themselves. Our client had a firm budget of $1.3M, knowing renovations would be needed, and that’s exactly where we landed. A great result in a market where buyers currently have more negotiating power.
The takeaway?
The headlines only tell part of the story. The real opportunities are often hidden between the stats.
If you’re wondering what your home might sell for in today’s market, just reply to this email and we’ll happily take a look for you.
Just reach out. We’d love to connect.
And don’t forget if you need to buy or sell, just call Davelle.
Want to Make This Market Work for You?
As always, if you have questions about the market, or would like an updated home evaluation, we’re here to help.
For Sale: Fabulous 3-Bedroom House in East Danforth (51 Bastedo Ave)
This is where homes turn into lasting memories, whether you are looking for your first-home or looking for a change in lifestyle. This smart home is perfect for those who want space to grow and a fabulous neighbourhood.
For Sale: Bright 1-Bedroom Condo in Corktown, Toronto (60 Tannery Rd #516)
Step into a sunlit living and dining space with clean sightlines and effortless flow. The open-concept kitchen keeps you connected – prep dinner, catch your favourite show, and take in the view all at once.