As we approach the middle of August, the traffic around the city gets a little lighter and it seems like it’s your last chance to take a bit of a breather before we start to think about getting ready for the fall real estate market. There is much talk around the office about all the new listings that will be hitting MLS after Labour Day. Will it be a repeat of May when we saw an excess of listings come to market? Are buyers waiting patiently for the impending influx of new listings to satisfy their desire for a place to call home?
The dog days of August are upon us. The weather is finally hot, hot, hot and sipping drinks on a patio is where we all want to be. Listings are slowing down but last week sales were slightly up by 8%. There was a significant increase in open house traffic last weekend and agents are seeing more appointments being booked on their listings. Stories around the office of properties that had 9, 16 and 18 offers this week got everyone all talking. Is pricing low to generate offers the way to go?