Real Estate in October
Wow, the Toronto market continues to be hot, hot, hot!
The 7,658 transactions in September, (a 25 per cent increase over September 2010), brings the total number of sales for 2011 up to 70,588, on track to 90,000, which will make 2011 the second most active year in the history of the Toronto Real Estate Board!
Relatively stable prices, continuing low interest rates and poor stock market performance seems to be driving both local and foreign investors to buying Toronto Real Estate, with seemingly no end in sight.
Certainly there is no need to panic if one hasn’t bought a property yet, but it is certainly time to get serious asToronto real estate continues to rise in price.
If you already own a property, it’s a great idea to buy an additional investment property. There is a real shortage of downtown rental units, and those condos being put up for rent are being snapped up eager tenants.
Many people are utilizing the investment strategy of buying downtown condos for their children use when they go to school in a few years. Something to consider!
The next 3 months represent a great opportunity to buy, as more listings are coming on line and fewer buyers are around. (8,000 will buy in October vs. 10,000 in June). Great choices, low rates and fewer bidding wars! Now truly is the time.
If you have considered buying or know of someone considering buying or selling, or if you have any questions related to real estate, please contact us at firstname.lastname@example.org. We would love to help!