So what’s happening in the Toronto real estate market now? As summer comes to an end, so has the market slowdown and we have seen a huge increase in activity in Toronto’s west end! Our industry is once again buzzing with momentum and at Nested we are once again taking our clients out to view homes multiple times a day.

We are seeing some key indicators of a continuing seller’s market:

1) Lingering listings have sold

Every summer we see a slow down in the real estate market, but this summer in particular, there was very little action. That’s not a surprise as people were enjoying their new found freedom, seeing family and friends for the first time in months (thanks Covid!) and getting some well deserved rest at the cottage. In the west end, several homes lingered on the market, but in the last couple of weeks, they have sold.

★ For more information on lingering listings check out this blog post.

2) New homes are coming to market weekly

There is a steady stream of inventory hitting the market, but still not enough to satisfy the motivated buyers eager to buy their first home or upsize to larger homes within the neighbourhood. There has also been a good number of sales that we have been tracking over the last couple of weeks, which have sold in multiple offers (3-6 offers) and for great prices. We are starting to see a replica of winter 2021, when the market was bananas.

★ We have an extensive library of buyer and seller resources to help keep you informed:

• Key Steps To Buying A House In Toronto
• Cost of Selling A House In Toronto
• Hiring The Right Realtor: Questions You Should Be Asking

3) New motivated buyers have landed

Over the last couple of weeks we have seen a huge spike in new buyer activity and have met with many new buyer clients who are ready to seriously house hunt and hope to be moved into their new homes by Christmas. Most of these buyers have done the early leg work and have been fully pre-approved for financing, making them great candidates to competitively offer on new listings.

At Nested, we make it our job to track the market closely and are always in tune with any changes. Fall is the second business real estate season in Toronto, spring being the first. Typically, the fall market picks up speed at the end of August and slows down by the end of November. This year things started off a bit later with extended summer vacations, which means that we will most likely see a healthy seller’s market well into the beginning of December.

★ Check out our First Time Home Buyer’s Guide. It’s covers some of the key points outlined here, such as financing and the seller’s market!

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