Accredited Buyer's Representative (ABR®)
Seniors Real Estate Specialist (SRES®)
Accredited Senior Agent (ASA)
Bosley Real Estate Ltd.
Ah September. Our favourite month. It’s not just the hot days and cool nights, or the pennant race or even the fact that pro football is back. For us, September means more listing and sales activity and after a traditionally slower August, it’s time to open the floodgates of new property inventory. It’s not a minute too soon either. August inventory levels were challenging at best.
Parents Unite. We made it through the first week of school. Granted it was a short week but still... And while our minds shift from lazy days at the cottage sipping frosty beverages by the dock to the daily grind of school drop offs, after school programs and homework, one thing is for sure...the real estate market never sleeps. Sure it ebbs and flows but it is alive and well in the 416.
Webster ’ s Dictionary has two definitions for the word “drought”. The first is a long period of time during which there is very little or no rain and the second is a prolonged or chronic shortage or lack of something expected or desired. Toronto, it seems suffers both. Not only has it been the driest summer in recent memory, we are also suffering through the longest list - ing drought on record. Maybe there is some good news on the horizon; It is bound to rain eventually and the fall market is closing in. The question is... will it be enough to quench our housing desires?
No question about it, if you like it dry, hot and sunny then this has been the best summer ever. If you’ve lost out on multiple offers and are frustrated with the low inventory of homes then this has been the worst summer. While the weather is likely to cool, we don’t expect inventory levels to pick up significantly in the near future.
Don't panic. For further clarification we are not talking about Toronto's hot real estate market, we are talking about summer holidays. Despite all the back to school ads that are starting to appear, there is still plenty of summer left. As for real estate, well, sales remain strong despite a continued decrease in listings and as we enter the home stretch of hot weather, we expect listings will get tighter until Labour Day.