Adjusting to the current market conditions is not only a smart idea, it is also the right thing to do for you. Having a crystal clear understanding of the kind of market you are dealing with and working within those parameters is key. We have been experiencing price adjustments for several months now, and the question from most folks have is, what should I do?
Being a Seller in this market means you will want to understand how this has impacted your specific home type and neighbourhood month over month and even compared to earlier this year. A numbers based realistic understanding of this, will allow you to make an educated decision on what your options are and also what home value your house likely has.
On the other hand, being a Buyer in this market presents opportunities that were otherwise not possible earlier this year. Finding a property that suits you and your budget should still remain top priority here. Narrowing down on similar sold comparisons as a guide are key to understanding your market value and (finally being able to) negotiate your offer amount is a perk of this market that we have not seen in almost a decade in most parts of the GTA.