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Understanding What type of Real Estate Market you are facing as a Buyer in Toronto

The Toronto real estate market is constantly changing. Understanding what the current market condition is and how the current market condition can affect your position as a buyer will help you in determining how to proceed with your house purchase.

Buyer’s Market in Toronto

The supply of houses on the market exceeds the housing demand.

CHARACTERISTICS:

Large inventory of houses available, fewer buyers in comparison to availability, Houses stay on the market longer, prices tend to drop or be more negotiable.

IMPLICATIONS

In a buyer's market, there is more time and inventory to look at resulting in a strong negotiating position for a buyer and more difficult time to sell for a seller.

Seller’s Market in Toronto

The number of buyers looking to purchase a house exceeds the supply or availability of homes on the market.

CHARACTERISTICS:

Many buyers, smaller inventory of homes, houses sell quickly usually in multiple offers, prices tend to increase.

IMPLICATIONS

Sellers often sell very quickly for over the asking price, Buyers forced to make quick decisions with very little choice often with few or no conditions.

Balanced Market

The number of homes for sale on the real estate market is equal to the demand or number of purchasers looking to buy

CHARACTERISTICS:

Demand equals supply, buyers and sellers negotiate reasonable offers, houses sell within an acceptable period of time

IMPLICATIONS

In a balanced real estate market, buyers and sellers are often content with the way houses sell on the market. Prices are reasonable and homes sell relatively quickly


Find the Right Real Estate Agent

Determine What Purchase Price You Can Afford

Making an Offer on a House

Acceptance of the Offer