Tag Archives: Toronto Real Estate Board
If you are looking to invest in a property in any fashion, buying a house or condo as a place for your habitat in GTA you’ll probably notice that the housing and condo market is booming like no other time and sometimes it is a matter of a chance to win a deal in bidding wars! Bidding war is correct, The Condo market is so hot as the market demand is high and surprisingly condo market creates its unique bidding process. In a nutshell, this process is so fierce that some buyers skip the inspections as one of the necessary steps prior closing the deals. Starting January 2017, this process has become more and more popular as the demand is tremendously rising. You can easily see an increase of 28% in selling prices of condo units in April this year compared to the same time frame in 2016. Selling price aside, Days on Market is another factor that causes more pressure on buyers on the other hand. It occurred to me couple times calling a real estate agent to get some information about the condo unit that just came to market a day ago and got sold immediately after. Not an easy environment for the buyers to react in a peace of mind. All the potential buyers shall act quickly to win the condo bidding battle.