Archive for August, 2012

Why Wait Until After Labour Day To List Your Home For Sale?

By on August 25, 2012 in Condos/Lofts, Events, Houses with 0 Comments

Why Wait Until After Labour Day To List Your Home For Sale? Photo

Around this time last year I wrote a blog post about why it might be better to wait until after Labour Day to list your home for sale (read it here).

There’s always the other side of the coin though, and in that article I noted that there are potential benefits to listing before Labour Day as well. For example, a seller could do well if everyone else was waiting until September and their property was the only one on the market.

A great example of this happened in my office just a few days ago.

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Are There Deals To Be Had In The Last Few Weeks Of Summer?

Are There Deals To Be Had In The Last Few Weeks Of Summer? Photo

The last few weeks in August are similar to the last few weeks in December in that these are the two times of year when a relatively large portion of the real estate market (buyers, sellers, and realtors) are away on vacation.

Not everyone is out of the game though. We still see listings come on the market right up until Labor Day weekend and Christmas. If you’re a buyer who’s still actively looking you may be able to take advantage of the timing here.

I say “may” because it’s actually quite rare to come across a bonafide “steal” in the Toronto real estate market. There are so many eyes on the listings at all times and nothing is ever going to slip past everyone.

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Toronto Real Estate Market Report: July 2012 Statistics

Toronto Real Estate Market Report: July 2012 Statistics Photo

Following is TREB’s market report for July 2012:   TORONTO, August 3, 2012 – Greater Toronto REALTORS® reported 7,570 sales in July 2012, representing a decline of 1.5 per cent compared to 7,683 sales reported in July 2011. The decline was most pronounced in the condominium apartment segment in the City of Toronto. Total sales in the rest of the Greater Toronto Area (GTA) were up compared to the same period last year.

“Very strong annual sales growth in the first half of 2012 and an earlier peak in sales this spring compared to 2011 help explain more moderate sales this summer. New mortgage lending guidelines and the additional upfront cost of the City of Toronto land transfer tax also prompted some households to put their buying decision on hold,” said Toronto Real Estate Board (TREB) President Ann Hannah.

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