Archive for October, 2014

What Happens When A Seller Receives Zero Offers?

Zero Offers! | Toronto Condos | Toronto Lofts | Toronto Real Estate

Back in August I wrote about the sellers who received 7 competing offers on offer-night, and said “no” to all of them (read it here). (Update: That house didn’t sell and is now off the market.)

This month I’d like to take a look at what happens when a seller receives no offers on offer-night…

I was recently out with some clients, viewing houses for sale in the west-end of the city.

We saw six houses in total, and each one had a scheduled offer-night for the following week.

Four of those houses ended up selling on offer-night (with multiple-offers, and sale prices well above what they were listed at).

The other two houses didn’t sell.

In fact, those two houses didn’t receive any offers at all!

So, what options does a seller have when they receive zero offers on offer-night?

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Toronto Real Estate Market Report: September 2014 Statistics

Toronto Real Estate Market Report: September 2014 Statistics Photo

Following is TREB’s market report for September 2014:

Toronto Real Estate Board President Paul Etherington announced that there were 8,051 transactions reported through the TorontoMLS system in September 2014.

This result represented a 10.9 per cent increase compared to September 2013.

On a year-to-date basis through the first three quarters of the year, sales were up by 6.9 per cent annually to 73,465.

“Despite a persistent shortage of listings in some market segments, we have experienced strong growth in sales though the first nine months of 2014.

This is evidence that GTA households remain upbeat about purchasing a home.

The majority of home buyers purchase a home using a mortgage.

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