Overcoming what we are currently going through has been made more difficult because we don't know when it will all end. As a friend said - it is like running a marathon and not knowing when it will end.
We must put one foot in front of the other, again and again, and have faith we will get to the end - and we will get to the finish line.
That being said, I have gathered few Q & A for you:
Are houses still selling? The answer is yes. There are buyers who sold their homes and need to move. We advise consumers that haven't sold or bought, and don't have a real need to move, to hang on tight.
How do we sell houses? We tremendously limit the amount of showings, we use Zoom meetings to walk potential buyers through the house, and we negotiate offers with condition upon seeing the property.
Are properties selling fast? It depends. If the property is priced low, and right now, lots of agents have decided to really underprice listings to get them to move quickly, then they do sell faster. Higher end properties take longer to sell in a normal market, so they will also take longer to sell right now.
How do we market properties?
Most stagers, photographers and Videographers aren’t currently working, however realtors and brokerages are working together to continue to give the best service they can.
Open houses are forbidden for now, but virtual tours are a good way to guide people through the home.
I hope this has answered some of your questions as to how the real estate market is currently working. As always, please feel free to reach out with any other questions you might have. I am always happy to help in any way that I can.
Let's now dive in what the Toronto Real Estate Board REALTORS® through TREB's MLS® System has released for MARCH 2020:
The average sales price is UP +2.27% compared to Feb 2020, and UP +13.48% compared to March 2019
The number of sales are UP +18.60% compared to March 2019
Your Numbers by City:
If you or anyone you know would like to discuss other cities or GTA region, I would be more than happy to do so.
Please email/call or text me!