Toronto's real estate market is exceptionally active.
On any given day listings are being uploaded to MLS, realtors are out viewing properties with clients, and offers are being signed.
It seems as though the Toronto real estate market never sleeps.
It does take a breather though. Twice a year.
Once during the holiday season (late-December/early-January). And again during the 2nd half of summer (the month of August).
Things are noticeably slower as these are the two times of year when a relatively large portion of the real estate market (buyers, sellers, and realtors) are away on vacation.
Even those buyers who aren't away on an actual vacation are likely still taking a break from their home search.
Accordingly, many sellers (and listing agents) feel that once August hits it's probably best to hold-off until after Labour Day to list.
I can't say I disagree.
I met with a couple of perspective sellers just a few weeks ago and, after some discussion, both decided to wait until September to sell.
And my current buyer clients are in the mind-set of, "If something great becomes available in the next few weeks let's go take a look. But realistically I'm not expecting to find anything until the market picks up again in September."
There are always two sides to the coin though. And in some instances August can actually be a great time to buy and/or sell.
I've written a few articles in the past that are worth a read here:
- Are There Deals To Be Had In The Last Few Weeks Of Summer? (read it here)
- Why Wait Until After Labour Day To List Your Home For Sale? (read it here)
- Is It Better To Wait Until After Labour Day To List Your Home For Sale? (read it here)
Whether you decide to stay active or take a break from the market this August is up to you. I know I'll be working the majority of the month, so if you got any questions just give me a shout. If not, enjoy the rest of your summer and we'll see you in September!
If you’re thinking of making a move and would like to know how I can help, feel free to contact me for more info.