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November 2019 Toronto Real Estate Market Update

The number one question we get when we tell people we work in Toronto real estate is “how’s the market?”

So, we’ve got a market update for you today!
Toronto Real Estate Board’s November 2019 stats are out and it is quite clear that the market is only getting hotter.

The average sale price is up 7.1% year over year, which compares November 2019 to November 2018 ($843,637)

Number of sales have increased by 14.2% year over year (7090 sales in November 2019).

Average days on the market have decreased by 11.1% year over year (24 days)

New listings have decreased by 17.9% (8650 listings in November 2019)

Interesting fact is that this has been the biggest jump of 2019 yet.

So what does it all mean?

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Eight reasons to use a real estate agent (*a skilled, qualified and experienced one).

Has there ever been a time when you were feeling unwell and indulged yourself in a google search to self-diagnose? How did that work out for you? My guess is not well. Most of the time it ends in some sort of terminal diagnosis, when in actuality it’s just a papercut.

It’s common sense to visit a doctor when someone is sick, to pursue a professional who is experienced in their work and amassed many hours navigating and troubleshooting the issues in their field. The same goes for real estate. Do you really want to take a risk with what is probably your biggest asset? My guess is no.

Here are 8 reasons why hiring a real estate agent is a very smart move.

1. Exclusives & Off Market Opportunities.

Full time real estate agents have a far broader view of what’s happening in the real estate market than those who aren’t immersed in it on a day to day basis. They are knowledgeable regarding the full history of the homes in their area and best of all, have access to “exclusive” properties. Oftentimes sellers want to sell their homes but don’t want to hit the market for a variety of reasons- divorce, financial struggle, privacy- and selling it off market allows them to do that. Realtors can get you access to these otherwise inaccessible homes.

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