So, I've been discovering very interesting things happening in the market - it continues to improve. Today, the Toronto Real Estate Board has released a report to the media showing that the market is still rising. So far in September, the number of transactions has increased by 23% over the first two weeks of September 2008. And prices have increased by 8% in the same time period. So yes, it does seem like a great time to capture the market before it levels off for the winter!
Another reason I can tell the market continues to improve is the lack of properties coming onto the market. Nice properties are selling really quickly, and we're starting to see multiple offers even in the Toronto suburbs! Just yesterday for example, I looked at the statistics for the area W24 (Bramalea) and as of 4:11pm, there were 13 sales reported just yesterday. Out of these 13 sales, 3 of them sold in multiple offer situations. Rather unusual, eh? Multiple offer situations are expected more often in "hot" downtown Toronto neighbourhoods rather than "the burbs". But it is happening in the suburbs - and more often as the market heats up.
So if you'd like to take advantage of the current market, give me a call on my cell 416-819-2509. I'm ready when you are.
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