Ok, we opted out of a January winter real estate photo to give you a little rock 'n roll optimism for peace and prosperity in 2024. This photo of Bono is for sale at Sotheby's on-line Entertainment Memorabilia Auction that may inspire you to put in an offer.
Last January 2023, after 8 consecutive interest rate hikes, the Bank of Canada hit pause inspiring buyers to return to the market. The Toronto Regional Real Estate Board (TRREB) chart shows sales increased (as did prices) until May surpassing 2022 levels. Market resilience was astounding in the face of inflation, bank failures, environmental erosion, and war. By June though prices, in some neighbourhoods, began to fall and sellers moved to the sidelines. TRREB reported 65,982 sales in 2023, the lowest volume in over 20 years.
We begin January 2024 with good news that rates are holding steady and lower rates are on the horizon. "Lower mortgage rates coupled with a relatively resilient economy should see a rebound in home sales this year,” said new Toronto Regional Real Estate Board (TRREB) President Jennifer Pearce".
Every market presents opportunities. Slower markets equate to good buying opportunity. Although we have seen a small portion of new listings posting offer dates, due to the scarcity of options in some neighbourhoods, sale prices reflect rational negotiations. Sales are often conditional now on finance and home inspection with both parties working together for a win-win. Sounds good, right!
Homes that are professionally prepared for market and show well, our specialty, are selling. We chose the power of the Sotheby's brand with its well-oiled real estate marketing machine to help us put your home in the best possible light regardless of price point.
You deserve the highest return for your most valuable asset and we as professional realtors have the skill, style and negotiating fitness to help you achieve it in 2024. If you are thinking of buying or selling, let's get started.
We continue our Winter Coat Drive for homeless youth. If you have one to spare please contact us for pick up.
January's Real Estate Review includes:
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TRREB Annual Sales Chart
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Lawrence Park and Cabbagetown Detached Homes for Sale
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Ritz Carlton and Iconic Waterfront Condo For Sale
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Toronto Weekend Play Options
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Sotheby's Entertainment Memorabilia On-Line Auction
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DCT Coat Drive for Covenant House Homeless Youth
Wishing you a great start to the New Year!
Lisa Marie, Linda, Lori, and Cherry
