Michael Rapkoski Sales Representative
Keller Williams Referred Urban Realty, Brokerage Independently owned and operated
Office: 416-572-1016

Multiple Offers...in December?

December 14, 2009

Buyers hoping to get a break from the fast paced real estate market in Toronto may have to wait a tad longer. Multiple offers are still going strong even as we head in to the Christmas Holiday season. Lofts, Condos and houses in certain neighbourhoods are still seeing pent up demand and low inventory resulting in bidding wars with less then two weeks till Christmas! Now this bodes well for my seller clients and one such lucky person did very well last week with the sale of his loft. His unit sold for 15% above the asking price!! But for our buyer clients...not so good. With anywhere from 2-12 offers on properties last week a few of our buyers lost in competition on a few different properties. While we have been preaching patience and to persevere hopefully the news will get better come mid-January when the market typically wakes back up and slowly gathers steam heading into the spring. With more people starting to see that it's a good time to sell this should lead to more inventory and an easing of the price run up of late. Interest rates continue to be extremely low and consumer confidence is good. Here's wishing for a balanced market come January! 


Tagged with: multiple offers lofts loft offers first time buyer toronto real estate lofts in toronto
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Michael Rapkoski Sales Representative
Keller Williams Referred Urban Realty, Brokerage Independently owned and operated

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Phone: 416-572-1016Fax: 1-888-840-MIKE (6453)
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