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Real Estate Sales in High Park increased by 34% - Sept 07 - Multiple Offer Territory

TREB* Sales in High Park (W02) increased by 34 per cent as compared to last September, mainly as a result of a tremendous increase in the sale of semi-detached units.

We all no the real estate market in Toronto and surrounding areas is hot, but particular spots are sizzling.  High Park is one of those areas were multiple offers are not uncommon.  

As a recent buyer myself, I have felt the loss of missing out on a home during a multiple offer situation.   I have asked myself "how much is too much?"  Before totally falling in love with a home in a hot area, I have to ask the question "am I prepared to enter into a potential bidding war if the property obtains more than one offer".   If the answer is a slight yes, I better do my homework in advance.   A good home inspector should always be close at hand as well as my bank manager.  

During multiple offers I have found, less conditions in the offer the higher my chances.

Doesn't always seem fair to do all this work before you even get to present your offer, but then you can also look at it from the Sellers point of view, he will be looking at the most attractive offer not only in terms of price but conditions as well.  

GOOD NEWS - while we're buyers today - we will eventually be a sellers tomorrow.Smile

My best approach in this area is to keep daily tabs on new listings as they hit the market.   First come, first serve they say.   While surfing the net is an excellent way to get product knowledge, many of the good homes sell before getting full exposure on the net.   My suggestion is to hire a good realtor that can provide you daily mls feeds as properties hit the market.   A head start doesn't hurt.

A home in the W02 mls district, which includes High Park, Bloor West Village and Swansea, sells on average for approximately 103% of List Price (yes, over the asking price) and in about 18 days on average as per TREBs September 2007 statistics.

It's a wonderful neighbourhood with transportation, shops and parks at hand.

Search Listings in Toronto West

Real Estate Prices in the GTA - Report

 

Posted: Friday, October 05, 2007 12:15 AM by Sutton Realty

Comments

Deanna Chevarie said:

Looking more in the Hamilton area. Thank youl.

# October 12, 2007 10:20 PM

Deanna Chevarie said:

Looking more in the Hamilton area. Thank youl.

# October 12, 2007 10:21 PM

Deanna Chevarie said:

Looking more in the Hamilton area. Thank youl.

# October 12, 2007 10:21 PM
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