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.
Last week the real estate industry took a slight pause while several major religions celebrated their holiest of days all in the same week. In real estate the coming of spring normally heralds the beginning of the annual game of trying to show houses while the city, in an apparently random manner, shuts down streets and neighbourhoods for prolonged construction projects – BEEEEEEEEEEEEEEEEEEEEEP – We interrupt this regularly scheduled Bosley Insight for breaking news from the Provincial Government. It seems that the powers that be at Queen’s Park will be making changes to ‘slow down’ the real estate market in the GTA. We wish we could tell you what this means but, like you, we will need a week or so to see how it all shakes out. Stay tuned next week when we can report back on how pending legislative changes will affect Toronto’s buyers and sellers.
The old adage says that if March comes in like a lion it leaves like a lamb. If we consider the real estate market in the same vein, since March started with a roar we should have had a nice quiet end to the month. Alas, the real estate market respects no old wives tales as it wends its way through the spring. The last week of March capped off a month that saw prices jump an average 33% over March 2016. Through the year, the talk has been the lack of listings, and we are happy to say that March seems to have bucked this trend. The number of new listings in March 2017 is virtually identical for both the freehold and condo market as the number of new listings in March of 2016. Of course we complained about not enough listings last year too so we expect to see high demand pushing prices in an upward direction for the foreseeable future.
Excuse us if we seem a little distracted this month but we normally reserve our March Madness for that basketball tournament going on south of the border. Cinderella stories are all the rage when talking college basketball, but here in the Toronto market she can make it to the big event but never seems to catch the prince. Seeing your team get knocked out of the tournament can be maddening but at least you know that if they work hard and persevere they will be back next year. With competition in purchasing as strong as it has been all year, the real estate market is producing more losers than winners. And unlike the basketball teams heading home and thinking of next year, we worry Buyers will begin to take their ball home and call it quits.
EVERY MONTH WE SCIENTIFICALLY MONITOR STORIES IN THE MEDIA ON BOTH FREEHOLD AND CONDO MARKETS IN TORONTO. THEN THROUGH A PATENT PENDING PROCESS WE ARE ABLE TO CREATE A VISUAL REPRESENTATION OF WHAT THE MEDIA THINKS THE MARKET IS DOING. IS IT FACING A SLOW DEATH OR IS IT PARTY TIME?
While we always enjoy spending time with our families, after all we are a family company, we never like what happens before the Family Day long weekend. Or really any long weekend in fact. The thing is, Realtors never like to list right before a long weekend which inevitably means listings drop the week before the long weekend and that creates what we like to call the real estate inversion. Before the long weekend there are a lot of sales and hardly any new listings and right after the long weekend there are a lot of new listings but not as many sales.
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.