Toronto Real Estate Update Junction House - David Speedie

Toronto Real Estate Update Junction House

If you follow real estate news in Toronto then you probably heard about the 32 offers, $200k over list price sale in the Junction last week and lost your marbles. Am I right? Here’s the good news…This was bound to happen. Lack of inventory and very high demand for homes in the Toronto Real Estate Market are the ingredients for this real estate recipe. It doesn’t surprise me at all, and in fact it happens more than you think . Well…At least for the past few years.

There were many factors involved and it sounds crazy that there were so many offers or how much it sold over list price, but when you break down the actual situation it makes total sense. More than half of those offers were probably no where close to the actual sale price and had no business even offering. Sometimes you have to go through the motions with a client in multiple offers, but anything under $800k had no business offering on this home. 32 Offers. Who cares how many offers there were. Attracting a large number of offers isn’t the idea and certainly a waste of time. It’s about attracting good offers, market value offers. Quick review.

Lower List Price potentially attracting an unnecessary amount of offers
Nothing else comparable on the market
Big pool of buyers
Fully renovated home
Up and coming area

Sellers! If you are thinking about selling this year, read my lips, sell now! Take advantage of this situation and maximize your investment. I have buyers ready and willing to jump on a great opportunity. Contact david@davidspeedie.com to discuss your future real estate opportunities. Send me a text or give me a call 647 244 3931. I am always here to help.

Toronto Real Estate Update Junction House

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Below is the Sage Gauge for Central Toronto December 2013. For a more in depth neighbourhood break down drop me a line and I’ll hook you up.