May 2022 – Market Update

/ 06.9.2022
Opportunities for Buyers and Sellers

 It’s no secret that the GTA Real Estate Market has seen explosive growth in the past two years, due in part to exceptional circumstances such as the pandemic and low-interest rates. The recent market adjustments do not equate to a cause for alarm. In fact, for many, these shifts open windows of opportunity. For buyers, there’s an opportunity to take advantage of more negotiating power for some properties. Those who are locked into pre-approved interest rates will be eager to close before those rates expire. For sellers, strategy is key. A knowledgeable agent is essential and can support sellers through market adjustments. What we’re seeing in today’s real estate scene isn’t new. For example, the current market patterns are similar to what we saw in 2017. We saw the market slow down for a bit, but remained resilient and continued to increase over time. The best approach for sellers when the market is fluctuating is to focus on pricing strategy. From activity in the surrounding area and individual building trends (for condos), through to showing appointment counts and each listing’s unique characteristics, many variables inform a property’s asking price.  Whether working with a buyer or seller, the agent’s role as a trusted advisor is crucial. Agents can help their clients navigate through the current market fluctuations by offering strong market insights and strategic plans. Working with a reputable brokerage means that agents can take advantage of a wealth of knowledge and resources.