Mia's Market Sense | Oct 2023 | Mia Macdonald | Real Estate

Mia's Market Sense | October 2023

Oct 15, 2023 | Pumpkin spice season is upon us, but is the market also spicy? After a typically slow August, the first weeks of September have seen more inventory and buyer competition as everyone returns from vacation mode. In fact, it looks like a cage match for homes under the $2 million mark. Most homes listed below $1 million sold at or above asking price. The competition dropped slightly for homes selling between $1-2 million, but still very high. Homes that are priced, presented and marketed well are still selling quickly, and for a good price.

The good news for purchasers is that we are seeing some of this summer’s inventory still sitting or re-listing at a lower price, so there are opportunities out there for savvy buyers, especially in the condo or fixer-upper categories. The Bank of Canada stayed rates this month but may raise again in October, so it is a good time to get pre-approved if you haven’t already.

If you are looking for some guidance on whether it is a good time to buy or sell, or simply would like a free market evaluation, please get in touch with Mia at 416-937-8734 for a confidential, no pressure chat about your options.

Mia's Market Sense | October 2023

Oct 15, 2023 | Pumpkin spice season is upon us, but is the market also spicy? After a typically slow August, the first weeks of September have seen more inventory and buyer competition as everyone returns from vacation mode. In fact, it looks like a cage match for homes under the $2 million mark. Most homes listed below $1 million sold at or above asking price. The competition dropped slightly for homes selling between $1-2 million, but still very high. Homes that are priced, presented and marketed well are still selling quickly, and for a good price.

The good news for purchasers is that we are seeing some of this summer’s inventory still sitting or re-listing at a lower price, so there are opportunities out there for savvy buyers, especially in the condo or fixer-upper categories. The Bank of Canada stayed rates this month but may raise again in October, so it is a good time to get pre-approved if you haven’t already.

If you are looking for some guidance on whether it is a good time to buy or sell, or simply would like a free market evaluation, please get in touch with Mia at 416-937-8734 for a confidential, no pressure chat about your options.

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