Bosley Real Estate Ltd., Brokerage is a 100% family owned and operated Real Estate company that has been successfully assisting the buying and selling public since 1928.
It’s funny how everyone seems to complain about the lack of listings. The truth of the matter is that last year at this time there were nearly half as many freehold listings available on the market. Sales continue to be strong year over year although comparatively the percentage of sales to listings last week was 51.7% vs 72.1% for the same week last year. The numbers indicate that demand may have slipped until you also consider the fact that both weeks recorded the same percentage of deals happening at or above the list price (59%).
Strong, sudden rains bring flash flooding, which cause havoc with traffic on the roads, increase the likelihood of power outages, and unfortunately, this is often the time when homeowners find out their basements aren’t as waterproof as originally thought.
The freehold market has reversed its month long trend by recording nearly 11% fewer listings last week. Sales followed suit registering almost 15% fewer transactions and the percentage of homes selling at or above the list price was a more reasonable 67.7% compared to 72% a month ago. Clearly the effect of less product is not causing increased bidding wars. Sales of freehold homes continues to be robust but there is less urgency in the market.
Case in point, the number of new freehold listings. Last week new listings were WAY up, this week they’re down by 3%. In complete contradiction to that pattern, sales are WAY up by over 88% from a week ago. And while the percentage of homes selling in multiple offers was off last week (54.3%)
New freehold listings are up by 15.8% over two weeks ago. When you factor in some lower numbers due to the long weekend, it appears that listings have been increasing relatively steadily for the past two months.
Our agents’ reputation of integrity, knowledge and professionalism is unparalleled in the city. Our principal value is quality over quantity. We don't wish to be giants but rather to be trusted advisors to buyers and sellers.