Sales in Toronto remain brisk. Prime neighborhoods have many buyers and low supply, and even sub-par neighborhoods the DOM is still low. Sales are up and showings are brisk. This means that there is a lot of money still chasing real estate. Whether its cheap debt or the massive amount of equity home owners have built up, one thing is for certain: There are lots of players in the Toronto Real Estate rink taking slap shots…and you need your helmet. We all know that you won’t get a return unless you take a risk, however it’s too easy to overpay and buyers should take heed: Humility today will trump arrogance.
What does this mean?
Studying data and facts alone won’t make you money. Getting dirty in the corners, cycling the puck and finding your impact zone is what is needed. Apartment owners, condo developers and vendors are all changing prices substantially month after month. Stay the course and continuing picking your spots. Experience and talent rules the day. image source: Gerard Stolk 64