There are some tell tale signs this Spring Market is going to be an active one. Despite the past several slower months that we have experienced, the market has begun to turn a leaf. With multiple offers and low inventory rampant in the GTA, properties have begun to sell with offer presentations and strategic pricing tactics once again.
The average number of showings has increased across most new listings and even those that have been on the market for some time now – reviving interest in those properties that were not gaining much traction earlier this year or even late 2022.
The Toronto Real Estate Board reported new listings down by 41% from Feb 2022 compared to Feb 2023, reinforcing the rhetoric that inventory is indeed low in most parts of the GTA. This does not mean though there may not be deals to had; homes that require some work or light renovations have opportunity.