Never have I seen a market with such little market inventory - properties for sale. Many owners, myself included, have said 'If you don't need to sell, sit on it", the market is still rising. But, this is also the best time to unload what I call, 'less desirable properties' and put them up for sale. In a normal market, these properties are difficult to sell and they sell at a discount. However, in today's market, they will sell at full value and quickly. So what do I mean by less desirable properties? Sell that condo on the second floor overlooking the garbage bins. Sell that condo on the fifth floor that sits beside the Gardiner with windows that are never allowed to open, and sell that condo gets no sunlight. You know what I'm talking about.

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  • Remax-Condos-Plus
  • 19 December 2016

With 2016 drawing to a close, everyone wants to talk about the Toronto market for 2017. So here are my preliminary thoughts; Lower Sales than in 2016 We predict lower sales than we've seen in 2016. Why? There is no product available and listings are way down. Secondly, the new mortgage rules will make it harder to qualify for everyone. For first-time Buyers, many will not even qualify at all, which will put a drag on the move-up market as well. Prices will not be falling No, prices will not be falling, but don't expect price increases of 20% for houses and 12% for condos that we saw this year. Rather, 10% and 5% will be more the norm. Increase in Housing Demand.

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