Who is enjoying the Toronto Real Estate Market these days?

Well the answer to that really depends on what side of the coin you land. Simply put, if you're a Seller in a hot pocket in the city and you've priced the listing well----it's a great time to be a Seller. Supply continues to be low and interest rates are very low. I laughed when I spoke to my Banker this week and told her that for the first time as far back as I can remember, it would make sense to pay off a line of credit with a mortgage (at these rates).

That said, let's look at the flipside of the coin. Buyer's are stumbling over each other's feet in hot pockets. I was on an offer presentation last week where there were 20 plus offers on a semi detached in one of the most sought after areas in the city.

Respecting the privacy code, I won't get into details, but the house sold way above asking. I personally wouldn't feel comfortable repping a buyer and winning in that bid. But hey...if the Buyer is happy (and if they get their finaning), who am I to talk?

It's been very tough to be a Buyer in many areas. Buyer's trying to beat the clock on interest rates and avoid multiple offers may do themselves a favour and pack their bags and leave the market behind.

If you're a intelligent Buyer these days, you're still viewing supply; you're studying the market; you're okay with not purchasing "outliers" (those that sell well beyond what comparables would suggest); you're okay with a bit of a bump in rates; you're understanding the process of purchasing; you're well positioned with an agent who has a few avenues outside of MLS to hedge that you'll hear about any/all opportunities and you're not on MLS.ca every 10 minutes making yourself crazy! I keep hearing how "fun" that is. It's not "fun"! If I really wanted tickets to see the Leafs play the Habs, I wouldn't wait and check a single website every 10 minutes hoping some tickets pop up. I'd "work smartly" to get those tickets and explore every avenue available.

I used the Leaf example because Leaf tickets are almost as expensive as buying a house!!!

Stay level headed Buyer's. We're all hoping to see more inventory these days. There is hope yet!