Changes in the Real Estate Market: What Sellers Should Know

A women who is selling her house in the real estate market standing by packed boxes

There’s been a lot of talk recently about the Real Estate Market in Canada and Ontario. If you are currently thinking about selling a piece of real estate, it is important to take the time to get all the information you need, and to get a valuable ally by your side, so that you make the most of the opportunities available.

The York Region Real Estate Market

In the past several months the inventory of homes for sale in York Region has increased dramatically, as the volume of transactions has dropped by half from May to June. This influx of houses on the market has caused prices to drop moderately during this time.

In light of this, many analysts believe that the market will stabilize and rebound to a degree like the Vancouver market. Fortunately, the economy is still strong and rates remain low.

What should you keep in mind when selling Real Estate?

In this climate, it is important for a Seller to determine why they are selling their piece of real estate.

  • If the primary motivation is price, it will be necessary to carefully consider the changes and variances in the market.
  • If there is another reason for the motivation to sell, you will need to consider the changes in the market to develop a strategy for determining your final listing price.

Working with a Real Estate Lawyer

Employing the services of a Real Estate Lawyer is critical for getting the best deal on this transaction, which will likely be one of the largest transactions you make in your lifetime.

This gives you added expertise and experience to prevent any crucial mistakes. Remember, once a deal has been made, you are legally bound to the terms. Taking the time to consider the deposit that must be paid is equally important in case the buyer tries to negotiate back out of the deal.

Our lawyers are available to review any offers you receive for free before you make a decision on whether to accept. You can come and visit us at any time to get an idea of our firm and to meet the key people who you will be working with to ensure your real estate sale closes without a hitch and what to expect if it does.