In Toronto, home buyers and sellers are used to always hearing about the houses near the downtown core that quickly go into a multiple offer situation, selling for well over the asking price. What they don’t hear about are the houses that don’t sell.
Even experts in the real estate market are perplexed when a home in a sought-after pocket doesn’t sell, despite near-identical neighbouring homes selling quickly. A number of Toronto home sellers have learned the hard way that not every Toronto home experiences multiple offers.
In many instances, buyer fatigue may be the culprit in Toronto-area homes not selling as quickly as the sellers would have hoped. In other instances, buyers may simply shy away from the prospect of potentially getting involved in a multiple offer situation, assuming that they will be unable to compete.
While certain scenarios cannot be explained, it’s still crucial to jump on opportunities as they arise, both when buying and selling, including condominiums. Timing is everything when it comes to real estate. Realtors need to be neighbourhood savvy, and be well-versed in the real estate activity within specific areas.
At W&Y Homes Co., we have been able to help our clients successfully buy and sell in the hot Toronto market, even in multiple offer situations. Whether you have decided to buy or sell first, our team of professionals are more than capable of helping you make the right decisions in order to optimize the outcome.