Real Estate in Toronto is very seasonal, and as we approach the waning months of November and December, a noticeable slowdown in activity can be seen. It doesn't mean the sky is falling, or real estate is crashing, rather it is a typical seasonal trait of how the housing market behaves. You're less likely to see biddings wars ... but ... is that such a bad thing?
I find that a lot of activity generally coincides with the school year calendar. Spring sometimes feels hotter than summer just because of the activity that is going on. School year leases are up, and graduating students are either looking for a new place to rent or buy. Kid's are starting school and parents want to find a good location to live with good schools nearby. People are getting married and looking for their first place, or simply, the winter is over, sun is out, and people want to do some spring cleaning or some shopping.
Whatever it may be, we know the market is seasonal. However, there are always great opportunities in the off-season! People tend not to look during the colder months because...well its cold. Don't let this deter you, because a little cold could mean a better discount, less competition, and more buying power! There's also higher chances of an timeline or agenda behind the sale during these months. You may not have the greatest variety of options, but there's definitely oppoturnity to be had.
If you're interested in keeping your eye out, contact me and I can put you on a automated notification list of properties during this winter season - maybe that boxing day deal might come a bit sooner than you think!
Century 21 - New Star Realty Inc.