As the leaves begin to change, so has the market. We are seeing a drop in sales in September and much of October. If you are thinking on listing your property, I would recommend sooner rather than later. The market is definitely cooling with the higher interest rates and stress test, it is making it increasingly difficult to get financing.
If you are thinking of buying, I would be happy to set you up with some reputable mortgage brokers that can assist you getting your approval in order so you can house hunt worry free. If you are thinking on downsizing and not needing financing and would like a realistic home evaluation, please feel free to contact me and I would be happy to pop by and let you know my thoughts.
I have been in the business 20+ years and also have been a Director on the Toronto Regional Real Estate Board for 6 years. I also am a Managing Partner at Royal Heritage Realty Ltd., with 6 offices and 325 agents that will be advertising and promoting your property.
As a Realtor, I pride myself on my honesty and integrity. No games. If you are looking for games, don't call me. LOL.. No offense but I am straight shooter and it has served me very well over the years.
So that being said, please get professional advise whether buying or selling right now and know that there has been a definite shift in the market. New listings were up 44% in September. The more inventory, the more choice. The more choice, the competition you have. Prices are staying relatively flat but the sales are down 7% from last same time last year.
For more information on your specific neighborhood just reach out and I will be happy to send you further information relating to your specific neighbourhood.