01.17.2023
Lack Of Product
Market UpdatesThe Real Estate market is tough, but Toronto is still selling. Despite tough market conditions – high-interest rates and inflation, homes and condos continue to sell. Homes in good areas are in high demand and are selling. There have been very few listings in many neighbourhoods as sellers hesitate to sell, not knowing what to expect. Many sellers don’t want to take lower prices. Hence, with a lack of product, we are seeing buyers jump on any good home that comes up. These homes need to be prepared properly and priced properly. We are hoping for more products in the spring. Then they will sell. We will see how the balance of product and demand goes. In Toronto, demand has always been higher than supply. If only we had a crystal ball.