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Selling Your GTA Home? Why The Time Is Right

While many GTA homeowners have been ecstatic watching the value of their home rise steadily over the past decade, it’s important to know this historic climb will not last forever. The Toronto real estate market is at the highest it’s ever been, and it is rather unrealistic to expect those numbers to continue growing forever.

Why now is a great time to sell

What’s we are seeing in the GTA market right now is a shift in supply and demand. Some analysts predict that home prices in the GTA are expected to rise by 8 percent in 2017, but there will be significantly fewer homes available on the market.

The current market conditions tell us that we are in the midst of a strong seller’s market. So as a homeowner looking to sell, you are in a prime position to take advantage of the high demand and the low supply. Your house today will have more eyeballs on it and far more qualified offers than in years previous. If you’re a serious about selling, be prepared for a lot of equally motivated buyers.

Currently, the prices of Toronto homes are climbing – there is no doubt about that. But are they going to remain on the climb forever? Many assume so – but they shouldn’t be so certain. One true fact is that the Toronto real estate market has never been higher than it is right now.

How much is my Toronto home worth now?

Finding out the answer to this question alone can be tricky. If you are serious about selling your Toronto and GTA home, it’s important to not base the value of your home solely on the for sale prices in your neighbourhood. A free home evaluation with a trusted Toronto and GTA real estate broker is a great method to see exactly how much value you can get for your home.

It is easy to assume some things however – Toronto home prices are rising. The homes in your area are more than likely selling for significantly more than they were 10 to 20 years ago. Here are a few highlights from the previous year that can help show just how much prices in the GTA have changed drastically in such a short period of time.

2016 Toronto Home Prices Highlights

  • The average 2016 for sale home price in the Toronto region in 2016 was $725,857.
  • Detached homes in the GTA rose over the $1 million mark in March of 2016. Now the average price is around $1.24 million.
  • The average Toronto home price has increased by 21 percent from October 2015 to October 2016.
  • According to the Financial Post, rising Toronto home prices are starting to drive up costs in nearby communities as far as the Niagara Region.
  • “Price growth accelerated throughout 2016 as the supply of listings remained very constrained. Active listings at the end of December were at their lowest point in a decade-and-a-half.” – Jason Mercer, TREB’s Director of Market Analysis.
  • The real estate market kept going up in price and getting hotter in the first quarter of 2017.  The public thought that it would never end, but  April 20th 2017 came. On that day the Ontario government implemented 16 initiatives and policies to slow down the market and it did. Showings are way down, Buyers are no longer placing unconditional offers and are looking to negotiate.
  • Motivated to sell after reading these statistics? It’s much more important now to make sure your property is extensively marketed and expertly negotiated to get the best price than it was before. Your home may not get sold for the most money if it is not professionally marketed and exposed to the market. Get a free home evaluation today and discover how you can get the most for your home.

Selling your Toronto and  GTA home soon? Contact Toronto’s Number One Real Estate Broker

If you want to know truly how much your house is worth and want to get the best price for your investment, contact Frank Leo today. Your home is your biggest investment, so you need to rely on the best real estate broker available.

Frank and his experienced team of realtors know how to attract qualified buyers and how to get you the most value for your home. Plus if he can’t sell it at the agreed upon price, Frank Leo will buy it from you himself. It’s time to take advantage of this market and sell your home for the most money possible.

Contact us for your free home evaluation today.

Let’s get you the best possible return on your investment!

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