Toronto Real Estate Board sizzles past October with record sales and continuing lack of inventory for sale.
Predictions were that we would hit almost 8,000 sales for the month. October 2009 ended up being the highest October in history for number of sales reported to TREB with 8,463 sales.
Available homes and Condos, inventory levels are continuing to fall. As of October 31st there were only 14,404 homes for sale.
Details are available at http://Davidpylyp.com
To put things into perspective, there were 64% more sales this October than in 2008 and there are currently 47% fewer homes for sale than there in October last year. The numbers show a hotter market than even those head spinning years from 2004 to 2007.
To take advantage of this market as a buyer is a little harder to answer.
How to take advantage as a seller is obvious, Stage, Price it well and Hold offers for 5 days. This bidding will continue well past the first snows of December and probably into the new year
Fasten your seat belts and Stand by…