There is so much misinformation being put out there. People like to say, “there’s nothing on the market,” or “there’s nothing for sale.” Yet we –‘we’ being Harvey Kalles Real Estate, we being the Toronto Regional Real Estate Board, we being the country – have set records for unit sales every single month since July. So, there has to be something available, because the sales are there.
What’s happened is that the Days on Market, the pace at which homes transact, has decreased substantially and it’s impacting the amount of inventory, also known as Active Listings. It can look like there’s nothing available, but that’s simply not the case. I do think, however, this subject further exemplifies the need to work with an experienced and educated Realtor, whether buying or selling.
On the sale side, you’ll want to ensure your home is exposed to the widest audience so that you maximize sales price, but still sell in a timely fashion. This experience will serve you well with so much happening over a short period of time, from getting the home ready to handling pre-emptive offers, multiple offer presentations, and more.
On the buy side, you need someone in the know who is working on your behalf. Homes come to market and sell so quickly that keeping track is a full-time job. Besides the MLS, there are off-market listings not being shared with the public, and good relationships with other Realtors and brokerages are essential so that buyers are aware of what opportunities may soon be made available.
In March, the average sale took place in only 10 days…not a lot of time. It’s the preparation and planning that will help ensure you get through those 10 days with a successful outcome.